Question

7. Find the rate per cent per annum, if 4000 amount to 5324 in 1 years, interest being compounded half-yearly 8. Sunil invested 8192 at the rate of 12.5% per annum compounded annually. He received 13 after 3/2 years. Find the value of n.
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Answer 1

Answer:

Hi

20%

Step-by-step explanation:

Let the interest rate be r

Principal amount = 4000

Amount at the end = Rs 5324

Period = 3 (compounded half yearly)

FInd r:

Amount = Principal ( 1 + r)ⁿ

5324 = 4000 ( 1 + r/2)³

( 1 + r/2)³ = 5325 ÷ 4000

( 1 + r/2)³ = 1.331

1 + r/2 = ∛1.331

1 + r/2 = 1.1

r/2 = 0.1

r = 0.2

Find the interest rate:

Interest rate = 0.2 = 20%

Answer: The interest rate is 20%

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