360. Fred the sum
16. At what rate per cent per annum compound interest will 6250 amount to 7290 in
years, the interest being
Answers
Answer:
didn't get your question friend sorry
Step-by-step explanation:
The rate percent is 8%.
Step-by-step explanation:
To find : At what rate percent p.a compound interest will rupee 6250 amt to rupee 7290 in 2 year ?
Solution :
Applying compound interest formula,
A=P(1+\frac{r}{100})^tA=P(1+
100
r
)
t
Where, A is the amount A=Rs.7290
P is the principal P=Rs.6250
r is the rate
t is the time t=2 year
Substitute the values,
7290=6250(1+\frac{r}{100})^27290=6250(1+
100
r
)
2
\frac{7290}{6250}=(1+\frac{r}{100})^2
6250
7290
=(1+
100
r
)
2
1.1664=(1+\frac{r}{100})^21.1664=(1+
100
r
)
2
Taking root both side,
\sqrt{1.1664}=1+\frac{r}{100}
1.1664
=1+
100
r
1.08=1+\frac{r}{100}1.08=1+
100
r
\frac{r}{100}=1.08-1
100
r
=1.08−1
\frac{r}{100}=0.08
100
r
=0.08
r=0.08\times 100r=0.08×100
r=8\%r=8%
Therefore, the rate percent is 8%.
#Learn more
By using the formula,find the amount and compound interest on:
rs10,000 for 2 years at 11%per annum compounded