A certain sum of money amounts to 5/4 of itself in 5 year. Find the rate percent per annum.
Answers
Answered by
31
explanation
Let the principal be x, Amount in 5 yrs = 5/4x
therefore
SI = (Amount – Principal) = 5/4x – x = 1/4.x
SI = P × R × T / 100
x/4 = x × R × 5 / 100
⇒ R = 5%
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Anshu001:
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Answered by
2
Given :
A certain sum of money amounts to of itself in 5 year
To Find :
The rate percentage per annum
Solution :
From compound interest method
Let the rate of interest = r%
Amount = Principal ×
Or, A = P ×
Or, P = P ×
or, =
Taking power both side
i.e =
Or, 1.04 =
Or, = 1.04 - 1
i.e = .04
∴ rate = 4 %
Hence, The rate of interest per annum is 4% Answer
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