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Manu invests ₹8000 for 3years at a rate of 18% per annum. At the end of the first year it amounts to ₹9440. Find Compound Interest after 3 yearspls solve the above question. Post the correct answer only otherwise i will report it ​

Answer» <html><body><p><strong>Answer:</strong></p><p><a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 11,139.20</p><p></p><p>P=Rs.8000</p><p></p><p></p><p>Amount after one year =Rs.9440</p><p></p><p></p><p><a href="https://interviewquestions.tuteehub.com/tag/interest-13407" style="font-weight:bold;" target="_blank" title="Click to know more about INTEREST">INTEREST</a> for <a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a> year=9440−8000=Rs.1440</p><p></p><p></p><p>let <a href="https://interviewquestions.tuteehub.com/tag/rate-1177476" style="font-weight:bold;" target="_blank" title="Click to know more about RATE">RATE</a> of interest =R</p><p></p><p></p><p>C.I for one year=S.I for 1 year=100PRT</p><p></p><p></p><p>⇒1440=1008000×R×1</p><p></p><p></p><p>⇒R=80001440×100=18%</p><p></p><p></p><p>For second year</p><p></p><p>P=9440</p><p></p><p>R=18%</p><p></p><p>T=1 year</p><p></p><p></p><p>∴Amount=P(1+100R)T</p><p></p><p></p><p>⇒9440(1+10018)</p><p></p><p></p><p>⇒9440×100118=Rs.11139.20</p><p></p><p></p><p>Hence Amount at the <a href="https://interviewquestions.tuteehub.com/tag/end-971042" style="font-weight:bold;" target="_blank" title="Click to know more about END">END</a> of second year =Rs.11139.20</p><p></p><p></p></body></html>


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