Mr. Lalit invested 5000 at a certain rate of interest, compounded annually for two
years. At the end of first year it amounts to * 5325. Calculate
(1) the rate of interest.
() the amount at the end of second year, to the nearest rupee.
Answers
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Step-by-step explanation:
P = 5000
A1= 5325
SI = 325
SI = PNR / 100
325 = 5000 X 1 X R / 100
325 / 50 = R
R = 6.5%
SI = PNR / 100
SI = 5325 X 1 X 6.5 / 100
SI = 346.125 = 346
A = 5325 + 346 = 5671
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