Question

A man invests rupees 5600 at 14 % per annum compound interest for 2 years.Calculate :
1)the interest for first year
2) the amount at the end of the first year
3) the interest for second year

Answer 1

Answer:

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.ANSWER.

Step-by-step explanation:

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Answer 2

Answer:

100

Step-by-step explanation:

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