the sum of money. 5. Mohit invests ...
Question
Fullscreen

the sum of money. 5. Mohit invests 8.000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to 9.440. Calculate: the rate of interest per annum. (*) the amount at the end of the second year. (*) the interest accrued in the third year.

Other Exams
Maths
Solution
159
Rating
4.0 (1 ratings)
Fullscreen
( A=P(1+gamma)^{n} ) ( 9440=8000[1+gamma]^{3} ) ( 1.18=[1+r)^{3} ) ( 1+gamma=1.057 ) ( gamma=0.057 ) ( r=5.7 % ) Rro ( begin{aligned} text { Amount at } & 2^{n} text { year } &=8000[1+gamma]^{2} end{aligned} ) ( =8933.3 mathrm{Am} ) qutarest in ( 3^{text {rd }} ) year ( =9440-8933.3 ) ( =506.7 ) Ams
Quick and Stepwise Solutions Just click and Send Download App OVER 20 LAKH QUESTIONS ANSWERED Download App for Free