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Help with a sum

  • 07-06-2012 8:22pm
    #1
    OwlYouNeed
    Registered Users, Registered Users 2 Posts: 92 ✭✭


    Sorry to make a thread just for one question, but I'm really nervous about it.

    I can't figure out how to do 2010 paper 1 question 2 c to save my life. Can someone explain it to me please?

    €2000 was invested at r% for 2 years compound interest.
    A tax of 25% was deducted each year from the interest gained.
    At the end of the first year the investment amounted to €2030 after tac was deducted.

    i) calculate the rate of interest r%
    ii) Find the amount of the investment at the end of 2 years, after tax has been deducted.

    I've managed to get as far as 20r(25/100), but I've no idea as to what to do after that.

    Thanks in advance.


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