a person in West rupees 5000 for 3 years at a certain rate of interest compounded annually at the end of 2 years the sum amounts to Rupees 6272rupees in Calucate the rate of interest for per annum and the amount at the end of the third year
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compound amount=principal (1+R/100)^year
6272=5000(1+R/100)^2
√1.2544=1+R/100
1.12*100=100+R
R=12
third year amount
interest 6272*1*12/100=752.64
amount=6272+752.64=7024.64
6272=5000(1+R/100)^2
√1.2544=1+R/100
1.12*100=100+R
R=12
third year amount
interest 6272*1*12/100=752.64
amount=6272+752.64=7024.64
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