12,000 is invested for 1.5
years at C.I. If 15,972 is received at the end of this period,find the rate of interest per annum.
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Answer:
Answer
Principal, P=Rs.12000
Time, t=1.5 years
Rate of interest, r=?
Amount received after 1.5 years A=Rs.15972
For compound interest,
A=P(1+
100
r
)
t
15972=12000(1+
100
r
)
2
3
12000
15972
=(1+
100
r
)
2
3
1000
1331
=(1+
100
r
)
2
3
1+
100
r
=(
1000
1331
)
3
2
1+
100
r
=
⎝
⎛
(
10
11
)
3
⎠
⎞
3
2
1+
100
r
=(
10
11
)
2
1+
100
r
=
100
121
100
r
=
100
121
−1=
100
21
⇒r=21% per annum
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