Mr. X invests ‘P’ amount at Simple Interest rate 10% and Mr. Y invests ‘Q’ amount at Compound Interest rate 5% compounded annually. At the end of two years both get the same amount of interest, then the relation between two amounts P and Q is given
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Answer:
Rs.11139.20
Step-by-step explanation:
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MATHS
Mohit invests Rs. 8,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 9,440. Calculate: the amount at the end of the second year.
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ANSWER
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=
100
PRT
⇒1440=
100
8000×R×1
⇒R=
8000
1440×100
=18%
For second year
P=9440
R=18%
T=1 year
∴Amount=P(1+
100
R
)
T
⇒9440(1+
100
18
)
⇒9440×
100
118
=Rs.11139.20
Hence Amount at the end of second year =Rs.11139.20
Answer:
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What would you like to ask?
MATHS
Mohit invests Rs. 8,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 9,440. Calculate: the amount at the end of the second year.
Share
Study later
ANSWER
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=
100
PRT
⇒1440=
100
8000×R×1
⇒R=
8000
1440×100
=18%
For second year
P=9440
R=18%
T=1 year
∴Amount=P(1+
100
R
)
T
⇒9440(1+
100
18
)
⇒9440×
100
118
=Rs.11139.20
Hence Amount at the end of second year =Rs.11139.20