a person invested rupees 5000 for 2 years at a certain rate of interest compounded annually at the end of one year this sum amount to rupees 5600 calculate the rate of interest per annum and the amount at the end of the second year
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11
Answer:
Let the rate be r.
S.I for 1st year=5600-5000=600
∴600=5000*r*1 / 100
r=12 %
Amount at the end of 2nd year=500(1 + 12/100)²=Rs 6272
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2
Answer:
6272 is your correct answer........
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