Question

9. If the amounts of two consecutive years on a sum of money are in the ratio 20 : 21, find the rate of interest.​

Answer 1

Answer:

Suppose P be the principal and r be the rate of interest.

Given the ratio of two consecutive years is 20:21

So, we have;

P1+r100P1+r1002 = 2021⇒11+r100 = 2021⇒1+r100 = 2120⇒r100 = 2120-1⇒r100 = 120⇒r = 5%

Therefore rate of interest is 5%.

2)  P = 48000, r = 5% and t = 3

So the amount accumulated after 3 years is given by;

Amount = P1+r100n = 480001+51003 = 48000×2120×2120×2120 = 55566

Therefore the amount after 3 years is Rs.55566.

Then compound interest = Rs.55566 - Rs.48000 = Rs.7566

Step-by-step explanation:

if the answer was helpful/useful pls mark me as the brainliest