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प्रश्न
Nikita invests Rs. 6000 for two years at a certain rate of interest compounded annually. At the end of the first year, it amounts to Rs. 6720. Calculate:
1) the rate of interest.
2) the amount at the end of the second year.
उत्तर
1) P = Rs. 6000, Amount at the end of the first year = Rs. 6720
S.I. for first year = Rs. (6720 – 6000) = Rs. 720
Let r% be the rate of interest p.a.
`720 = (6000 xx r xx 1)/100`
`r = 720/60 = 12%`
2) S.I. for second = `(6720 xx 12 xx 1)/100 = Rs 806.40`
Amount at the end of second year = Rs. (6720 + 806.40) = Rs. 7526.40
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