Question

Kiran invests Rs 8000 for 2 years at
a certain rate of interest,
compounded annually. At the end
of one year, this sum amounts to
Rs 8960. Calculate :
) the rate of interest per annum.
(ii) the amount due at the end of
second year.
(iii) the compound interest earned
in 2 years.​

Answer 1

Step-by-step explanation:

P=Rs.8000

Amount after one year =Rs.9440

Interest for 1 year=9440−8000=Rs.1440

let rate of interest=R

C.I for one year=S.I for 1 year=100PRT

⇒1440=1008000×R×1

⇒R=80001440×100=18%

For second year

P=9440

R=18 %

T=1 year

∴Amount=P(1+100R)T

⇒9440(1+10018)

⇒9440×100118=Rs.11139.20

Hence Amount at the end of second year =Rs.11139.20

For the third year

P=Rs.11139.20

R=18%

T=1 year

Interest=10011139.20×

Answer 2

hope it helps you

Step-by-step explanation:

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