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: the rate of interest per annum.

12%

No worries! We‘ve got your back. Try BYJU‘S free classes today!

14%

No worries! We‘ve got your back. Try BYJU‘S free classes today!

18%

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

22%

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C 18%
$P = R s .8000$

$T i m e = 1 y e a r$

$A m o u n t = 9440$

Interest for 1 year $= 9440 - 8000 = R s .1440$

$I n t e r e s t = \frac{P R T}{100}$

$1440 = \frac{8000 \times R \times 1}{100}$

$R = \frac{1440 \times 100}{8000} = 18$ %

Suggest Corrections

Similar questions

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.

Q. 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: the amount at the end of the second year.

A man invests Rs. 5000 at a certain rate of interest, compounded annually. At the end of one year, it amounts to Rs. 5600. The rate of interest per annum is

___ %

Q. A person invests Rs. 5000 for two year at a certain rate of interest compounded annually. At the end of one year this sum amount to Rs. 5600. Calculate the rate of interest per annum.

Q. A person invests Rs.

5, 000

for two years at a certain rate of interest compounded annually. At the end of one year, this sum amounts to Rs.

5, 600

. Calculate the rate of interest per year. Find the amount at the end of the second year.

Join BYJU'S Learning Program

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: the rate of interest per annum.

The correct option is C 18%P=Rs.8000Time= 1 yearAmount=9440Interest for 1 year=9440−8000=Rs.1440Interest=PRT1001440=8000×R×1100R=1440×1008000=18%

The correct option is C 18%
$P = R s .8000$

$T i m e = 1 y e a r$

$A m o u n t = 9440$

Interest for 1 year $= 9440 - 8000 = R s .1440$

$I n t e r e s t = \frac{P R T}{100}$

$1440 = \frac{8000 \times R \times 1}{100}$

$R = \frac{1440 \times 100}{8000} = 18$ %