Question

A man invests rupees 5600 at 14% per annum ci for 2 years. calculate:
(1)the interest for the first year.
(2)the amount at the end of the first year.
(3)the interest for the second year, correct to the nearest rupee

Answer 1

Answer:

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Step-by-step explanation:

For the first year:  

P= Rs. 5,600, N=1 year and R=14%

We have S.I. =  

100

PNR

​  

=  

100

5,600×1×14

​  

= Rs. 784

And Amount at the end of first year P+S.I.= Rs. 5,600+ Rs. 784= Rs. 6,384

Now, for the second year :

P= Rs. 6,384, N=1 year and R=14%

We have S.I.=  

100

PNR

​  

=  

100

6,384×1×14

​  

= Rs. 893.76

To the nearest rupee, it is Rs. 894.