Question

A man invests sr 10000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to rs 10800. calculate : i) the rate of interest per annum. ii) the interest accured in the second year. iii) the amount at the of the third year(to the nearest rupee)

Answer 1

Answer:

Answer:

Principle = Rs 10000, After 1 year amount = Rs 11200 so interest after 1 year = Rs 1200

Amount = P(1+R/100)T

11200 = 10000(1+R/100)1

R = 12%

Interest for second year = 11200(1+12/100)1 - 11200 = Rs 1344

Amount after 3 year = 10000(1+12/100)3 = Rs 14049.28

Step-by-step explanation:

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