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A person invests रु 10,000 for three yea...

A person invests रु 10,000 for three years at a certain rate of interest compounded annually. At the end of one year this sum amounts to ? रु 11,200. Calculate :
(i) the rate of interest per annum. (ii) the amount at the end of the second year.

Text Solution

AI Generated Solution

To solve the problem step by step, we will first calculate the rate of interest per annum and then find the amount at the end of the second year. ### Step 1: Identify the given values - Principal (P) = रु 10,000 - Amount after 1 year (A) = रु 11,200 ### Step 2: Calculate the interest earned in the first year The interest earned in the first year can be calculated using the formula: ...
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