5.At what rate percent per annum would Rs. 56,000 amount to Rs. 68,600 in 3years ?
need help please answer
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Answer:
We know that,
Amount = Principal - Interest
A = P - PRT/100
A = P(1 - RT/100)
68600 = 56000(1 - R×3/100)
68600/56000 = (100 - 3R)/100
686/560 = (100 - 3R)/100
(686/560)×100 = 100 - 3R
68600/560 = 100 - 3R
6860/56 = 100 - 3R
3R = (6860/56)-100
3R = (6860 - 5600)/100
3R = 1260/100
R = 1260/(100×3)
R = 1260/300
R = 4.2%
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