Question

Asha invested rupees 8000 at a certain rate for 3 years compounded annually she finds that at the end of one year it amounts to rupees 9200 calculated (1)The rate of interest(2)the interest accrued in the second year (3)the amount at the end of third year​

Answer 1

Answer:

(1) 15%

(2) 1380

(3) 12167

Step-by-step explanation:

(1) A = P(1+r/100)^n

=> 9200/8000 = (100+r)/100

=> 23/20 ×100 = 100+r

=> 115-100 = r

=> r = 15%

(2) C.I for 2nd year = 9200 × 15 × 1 / 100 = 1380

(3) Amount at the end of 2nd year = 1380 + 9200 = 10580

Amount at the end of 3rd year = 10580 × (1 + r/100) = 12167

Answer 2

Answer:

15%

Rs 1380

Rs.12167

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