Asha invests rs 8000 at a certain rate for three yrs compounded annually . She finds at the end of the first year it amounts to rs 9200. Calculate(1) R%(2)interest acquired in second year (3)amount at the end of the third year
Accepted Solution
A:
Answer: = 12169 rsStep-by-step explanation:Asha invest total=rs 8000 Total years = 3Amount after 1 year= 9200 rsInterest on first year =9200-8000= 1200 rsSo for second and third yearsA= P (1 + R/100)ⁿ9200= 8000( 1+ R/100)¹9200= 8000( 100+ R/100) 115= 100 +RR = 15 So amount after second year A= 8000 (1 +15/100)²A= 10580Interest on second is = 10580 –P-interest on ist =10580-8000-1200 = 1380 rsSo total amount at the end A = 8000 ( 1 +15/100) ³ =12169 rs