A man invests Rs. $5, 600$ at $14$ % per annum compound interest for $2$ years. Calculate the amount at the end of the first year.

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Solution

For the first year
$P = R s 5, 600$
$N = 1 y e a r$
$R = 14$ %
We have $S . I . = \frac{P N R}{100} = \frac{5, 600 \times 1 \times 14}{100} = R s 784$
And Amount at the end of first year $P + S . I . = R s 5, 600 + R s 784 = R s 6, 384$

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