Mohit invests Rs.8,000 for 3 years at a certain rate of interest, comp

1.	Mohit invests Rs.8,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 9,440. Calculate : (i) the rate of interest per annum. (ii) the amount at the end of the second year. (iii) the interest accrued in the third year.
Answer» Mohit invests Rs.8,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 9,440. Calculate : (i) the rate of interest per annum. (ii) the amount at the end of the second year. (iii) the interest accrued in the third year.

Mohit invests Rs.8,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 9,440. Calculate : (i) the rate of interest per annum. (ii) the amount at the end of the second year. (iii) the interest accrued in the third year.

Answer»

Mohit invests Rs.8,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 9,440. Calculate :

(i) the rate of interest per annum.

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

(iii) the interest accrued in the third year.