Question

A person invests Rs 5,600 at 14% p.a. compound interest for 2 years. Calculate:
(i) the interest for the first year; (ii) the amount at the end of the first year;
(iii) the interest for the second year, correct to the nearest ₹.


Correct answer = 10 thanks
Wrong Answer = Report ❌⚡



​​

Answer 1

Explanation:

please check this answer

Answer 2

$\red{\bf{Given\: that,}}$

$\bf\color{blue}{Principal}$= ₹5600

$\bf\color{blue}{Rate}$ = 14 % per annum

$\bf\color{blue}{Time}$ = 2 years

$\sf\color{red}{(i)}$The interest for the first year

$\boxed{\purple{\sf\frac{= (Principal × rate × Time)}{100}}}$

$\boxed{\purple{\sf\frac{(5600 × 14 × 1)}{100}}}$

$\bold{₹ 784}$

$\sf\color{red}{(ii)}$ The amount at the end of the first year

$\sf{= ₹ 5600 + ₹ 784}$

$\sf{= ₹ 6,384}$

$\textbf{So,}$

$\tt\color{orchid}{Principal\: for \:the\: second \:year}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀$\pink{\bigstar}★ \large\underline{\boxed{\bf\pink{= ₹ 6,384}}}$

$\sf\color{red}{(iii)}$The interest for the 2

nd year

$\boxed{\purple{\sf\frac{= (6,384 × 14 × 1)}{100}}}$

$\bold{= ₹ 893.76}$

The interest for the 2nd year, correct to the nearest

$\underline{\boxed{\sf\green{= ₹ 894}}}$

Thankyou :)