Question

Mohit invests 8,000 for 3 years at a certian rate of interest,
compounded annually. At the end of 1st year it amounts to 9,440.
Calculate.
(i) the rate of interest per annum.
(ii) the amount at the end of the second year.
(iii) the interest accrued in the third year.​

Answer 1

Answer:

I)rate of interest per annum=18%

II) Amount=10880

III) INTEREST=4320

Step-by-step explanation:

P=8000

R=x%

T=1yrs

Amount=P+SI

9440=8000+SI

SI=9440-8000

=1440

SI=P×R×T

---------

100

1440=8000×x×1

----------------

100

x=8000×1. 8000

---------------- =. ------------

100 × 1440. 144000

=18%

ii)

P=8000

R=18%

T=2yrs

SI= P×R×T

---------

100

SI=8000×18×2

-----------------

100

=2880

amount=P+SI

=8000+2880

=10880

III)

P=8000

R=18%

T=3YRS

SI= P*R*T

----------

100

=8000*18*3

----------------

100

= 4320