Mr Lalit invested 75000 at a certain rate of interest compounded annually for two years At the end o...

Question

Mr Lalit invested 75000 at a certain rate of interest compounded annually for two years At the end of the first year it amounts to 5325 Calculate i the rate of interest ii the amount at the end of the second year to the nearest rupee

Accepted Answer

It is given that Investment of Mr Lalit 5000 Period n 2 years i We know that Amount after one year 5325 So the interest for the first year A P Substituting the values 5325 5000 325 Here Rate SI 100 P T Substituting the values 325 100 5000 1 So we get 132 65 pa ii We know that Interest for the second year 5325 13 1 100 2 By further calculation 213 13 4 2 So we get 27698 34612 So the amount after second year 5325 34612 We get 567112 5671 to the nearest rupee

ML Aggarwal Solutions Class 9 Mathematics Solutions for Compound Interest Exercise 2.1 in Chapter 2 - Compound Interest