Question

a person invest 10000 for 2 years at a certain rate of interest compounded annually at the end of one year this sum amount to 11200 calculate the rate of interest per annum and the amount at the end of second year​

Answer 1

hope it helps u

mark me brainliest

Answer 2

Answer:

Rate of interest = 12 % annually and

total sum =  12544 Rs

Step-by-step explanation:

Given,

• principal amount, P = 10000
• Time, t = 2 years
• At the end of one year the sum is, A = 11200

According to the formula of compound interest,

$A\ =\ P(1+\dfrac{r}{n})^{nt}$

where, A = total sum

            P = principal amount

            t = time in years

            r  = interest rate

$=>\ 11200\ =\ 10000(1+r)^1$

$=>\ \dfrac{11200}{10000}\ =\ 1+r$

=> r = 0.12

Hence, rate of interest in 12% annually.

For t = 2 years

$A\ =\ P(1+\dfrac{r}{n})^{nt}$

    $=\ 10000(1+0.12)^2$

    = 12544

Hence, the total sum after the end of 2 years is 12544 Rs.