Monil invests Rs 5600 at 14% p.a. compound interest for 2 years. Calcu

1.	Monil invests Rs 5600 at 14% p.a. compound interest for 2 years. Calculate: i) the interest for the first year ii) the amount at the end of the first year, iii) the amount at the second year, correct to the nearest Re.
Answer» Monil invests Rs 5600 at 14% p.a. compound interest for 2 years. Calculate: i) the interest for the first year ii) the amount at the end of the first year, iii) the amount at the second year, correct to the nearest Re.

Monil invests Rs 5600 at 14% p.a. compound interest for 2 years. Calculate: i) the interest for the first year ii) the amount at the end of the first year, iii) the amount at the second year, correct to the nearest Re.

Answer»

Monil invests Rs 5600 at 14% p.a. compound interest for 2 years. Calculate:

i) the interest for the first year

ii) the amount at the end of the first year,

iii) the amount at the second year, correct to the nearest Re.