Question

Ritu invest 75550 at the 8.5 % per annum for 3 years and interest is compounded annually
A.Calculate the amount received at the end of the second year​
B.intrest for third year

Answer 1

Answer:

Correct option is

A

894

For the first year:

P= Rs. 5,600, N=1 year and R=14%

We have S.I. =

100

PNR

=

100

5,600×1×14

= Rs. 784

And Amount at the end of first year P+S.I.= Rs. 5,600+ Rs. 784= Rs. 6,384

Now, for the second year :

P= Rs. 6,384, N=1 year and R=14%

We have S.I.=

100

PNR

=

100

6,384×1×14

= Rs. 893.76

To the nearest rupee, it is Rs. 894.

Step-by-step explanation:

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