please please please somehow complete this
a person invest rupees 5000 for 2 years at a certain rate of interest compounded annually at the end of one your this sum amounts to rupees 5600 calculate
1) rate of interest
2) amount at the end of second year
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Answer:
Hello friend!
Here's ur answer!
Principal - Rs.5000
Amount - Rs. 5600
Time - 2 yrs.
Let rate be r.
5600=5000(1+r/100)1
5600/5000= 1+r/100
28/25=1+r/100
3/25= r/100
Rate = 12 %
Amount=5000(1+12/100)2
5000(1+3/25)2
5000(28/25)2
6272.
HOPE IT HELPS !!☺
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