A person invests Rs. 5,000 for three years at a certain rate of intere

1.	A person invests Rs. 5,000 for three years at a certain rate of interest compounded annually. At the end of two years this sum amounts if Rs. 6,272. Calculate : (i) the rate of interest per annum. (ii) the amount at the end of the third year.
Answer» A person invests Rs. 5,000 for three years at a certain rate of interest compounded annually. At the end of two years this sum amounts if Rs. 6,272. Calculate : (i) the rate of interest per annum. (ii) the amount at the end of the third year.

A person invests Rs. 5,000 for three years at a certain rate of interest compounded annually. At the end of two years this sum amounts if Rs. 6,272. Calculate : (i) the rate of interest per annum. (ii) the amount at the end of the third year.

Answer»

A person invests Rs. 5,000 for three years at a certain rate of interest compounded annually.

At the end of two years this sum amounts if Rs. 6,272. Calculate :

(i) the rate of interest per annum.

(ii) the amount at the end of the third year.