A man invests 10000 for 3 years at a certain rate of interest, compounded annually. At the
2 answers:
Step-by-step explanation:
(I) Principle = Rs 10000, After 1 year amount
= Rs 11200 so interest after 1 year
= Rs 1200
R = 12%
Amount = P(1+R/100)T
11200 = 10000(1+R/100)1
R = 12%——————————————————————————————————————
(Ii)Interest for second year = 11200(1+12/100)1 - 11200 = Rs 1344
(iii)Amount after 3 year = 10000(1+12/100)3 = Rs 14049.28
Step-by-step explanation:
10000, After 1 year amount = 11200 so interest after 1 year = 1200
Amount = P(1+R/100)T
11200 = 10000(1+R/100)1
R = 12%
Interest for the second year = 11200(1+12/100)1 - 11200 = 1344
after 3 years = 10000(1+12/100)3 = 14049.28
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