If Rs. 1200 amounts to Rs. 1323 in 2 years at | vedclass

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(B) The formula for the amount under compound interest is $A = P(1 + \frac{R}{100})^n$.Given $P = 1200$,$A = 1323$,and $n = 2$ years.$1323 = 1200(1 +

Vedclass · Accepted Answer

$1852.50$

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(B) The formula for the amount under compound interest is $A = P(1 + \frac{R}{100})^n$.Given $P = 1200$,$A = 1323$,and $n = 2$ years.$1323 = 1200(1 + \frac{R}{100})^2$$\frac{1323}{1200} = (1 + \frac{R}{100})^2$$\frac{441}{400} = (1 + \frac{R}{100})^2$$(\frac{21}{20})^2 = (1 + \frac{R}{100})^2$Taking the square root on both sides: $1 + \frac{R}{100} = \frac{21}{20} = 1.05$.Thus,$\frac{R}{100} = 0.05$,which means $R = 5\%$.Now,for $P = 1600$,$n = 3$ years,and $R = 5\%$:$A = 1600(1 + \frac{5}{100})^3$$A = 1600(1.05)^3$$A = 1600 	imes 1.157625 = 1852.50$.Therefore,the amount is $Rs. 1852.50$.

If $Rs. 1200$ amounts to $Rs. 1323$ in $2$ years at compound interest compounded annually,what will $Rs. 1600$ amount (in $Rs.$) to in $3$ years at the same rate?

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