Question

7. Find the rate per cent per annum, if compounded
yearly
(i) Principal = 3136 Amount = * 345
time, = 2 years,

Answer 1

Answer:

vcajalainskaab ddc distinct also

Answer 2

Answer:

Given:

Principal = Rs.3136

Compound interest = Rs.345

Time = 2 years

To Find:

Find the rate percent per annum

Solution:

Principal = Rs.3136

Compound interest = Rs.345

Amount = Principal+Interest = 3136+345=3481

Time = 2 years

Let r be the rate of interest in decimal

Formula:

\begin{gathered}Amount = P(1+r)^t\\3481=3136(1+r)^2\\\frac{3481}{3136}=(1+r)^2\\\sqrt{\frac{3481}{3136}}=1+r\\\sqrt{\frac{3481}{3136}}-1=r\\\end{gathered}

Amount=P(1+r)

t

3481=3136(1+r)

2

3136

3481

=(1+r)

2

3136

3481

=1+r

3136

3481

−1=r

0.053=r

5.3%=r

Hence the rate percent per annum is 5.3%