Question

14. In how much time will * 10000 yield an interest
1
of 8500 at the rate of 8-%? Within the same
2
time period, at what rate of interest will the
sum double itself?​

Answer 1

10,000=1+1008x+(1+1008)2x+(1+1008)3x

10,000=108100x+(108)21002x+(108100)3x

10,000=2725x+(2725)2x+(2725)3x

=2725x(1+2725+(2725)2)