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A person invests ₹ 10,000 for two years at a certain rate of interest compounded annually. At the end of one year this sum amounts to ₹ 11,200 ,Calculate; (i) the rate of interest per annum (ii) the amount at the end of the second year |
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Answer» A person invests ₹ 10,000 for two years at a certain rate of interest compounded annually. At the end of one year this sum amounts to ₹ 11,200 ,Calculate; (i) the rate of interest per annum (ii) the amount at the end of the second year
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