Barat invests Rs5000 for 2 years at SI.At the end of two years he receives Rs5800.Find the amount he would have received ,if he had invested the given amount at the same rate of interest compounded annually
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Answer:
Solution:-
Amount =P(1+
100
r
)
t
∴5600=5000(1+
100
r
)
1
50
56
=1+
100
r
⇒
50
6
=
100
r
⇒r=12
Amount after two years = 5000(1+
100
12
)
2
=5000(1+
25
3
)
2
=
25×25
5000×28×28
=6272
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