Manu invests ₹8000 for 3years at a rate of 18% per annum. At the end

1.	Manu invests ₹8000 for 3years at a rate of 18% per annum. At the end of the first year it amounts to ₹9440. Find Compound Interest after 3 yearspls solve the above question. Post the correct answer only otherwise i will report it
Answer» Answer: RS. 11,139.20 P=Rs.8000 Amount after one year =Rs.9440 INTEREST for 1 year=9440−8000=Rs.1440 let RATE of interest =R C.I for one year=S.I for 1 year=100PRT ⇒1440=1008000×R×1 ⇒R=80001440×100=18% For second year P=9440 R=18% T=1 year ∴Amount=P(1+100R)T ⇒9440(1+10018) ⇒9440×100118=Rs.11139.20 Hence Amount at the END of second year =Rs.11139.20

Manu invests ₹8000 for 3years at a rate of 18% per annum. At the end of the first year it amounts to ₹9440. Find Compound Interest after 3 yearspls solve the above question. Post the correct answer only otherwise i will report it

Answer»

Answer:

RS. 11,139.20

P=Rs.8000

Amount after one year =Rs.9440

INTEREST for 1 year=9440−8000=Rs.1440

let RATE of interest =R

C.I for one year=S.I for 1 year=100PRT

⇒1440=1008000×R×1

⇒R=80001440×100=18%

For second year

P=9440

R=18%

T=1 year

∴Amount=P(1+100R)T

⇒9440(1+10018)

⇒9440×100118=Rs.11139.20

Hence Amount at the END of second year =Rs.11139.20