Question

A person invests Rs.5000 for two years at a certain rate of interest compounded annually. At the end of one year ,this sum amounts to Rs. 5600.Calculate.(1)the rate of interest per annum .(2)the amount at the end of the second year.

Answer 1

let rate be r
5600=5000(1+r/100)¹
5600/5000=1+r/100
28/25=1+r/100
3/25=r/100
r=12
the amount=5000(1+12/100)²
5000(1+3/25)²
5000(28/25)²
6272

Answer 2

Hello friend!
Here's ur answer!
Principal - Rs.5000
Amount - Rs. 5600
Time - 2 yrs.
Let rate be r.
5600=5000(1+r/100)1
5600/5000= 1+r/100
28/25=1+r/100
3/25= r/100
Rate = 12 %
Amount=5000(1+12/100)2
5000(1+3/25)2
5000(28/25)2
6272.

HOPE IT HELPS !!☺
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