Question

Manu invests ₹8000 for 3years at a rate of 18% per annum. At the end of the first year it amounts to ₹9440. Find Compound Interest after 3 years

pls solve the above question. Post the correct answer only otherwise i will report it ​

Answer 1

Answer:

Rs. 11,139.20

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