A person invests rupees 5000 for 3 years at a certain rate of interest compounded annually.at the end of 2 years this sum ammounts to rupees 6272.calculate (a)rate of interest per annum.(b)the amoun at the end of the third year.
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hii here is your answerA sum P, compounded annually will amount to A, which can be given by the formula,
A = P[1+r/100]^n, where r is the rate of interest and n is the compounding duration.
In this case, A = Rs. 6272, P = Rs. 5000, n = 2 and r needs to be found out.
Thus, 6272 = 5000[1+r/100]^2
or 6272/5000 = (1+r/100)^2
1+r/100 = sqrt (6272/5000) = sqrt (1.2544) = 1.12
Therefore, r/100 = 1.12-1 = 0.12
Or, the rate of interest is 12%.
The amount at the end of the third year is
A = 5000[1+12/100]^3 = 5000*1.404928 = Rs. 7024.64
Thus, the rate of interest, r = 12% and amount at the end of 3 years would be Rs. 7024.64
hope it helps you out marke me as brainlist
A = P[1+r/100]^n, where r is the rate of interest and n is the compounding duration.
In this case, A = Rs. 6272, P = Rs. 5000, n = 2 and r needs to be found out.
Thus, 6272 = 5000[1+r/100]^2
or 6272/5000 = (1+r/100)^2
1+r/100 = sqrt (6272/5000) = sqrt (1.2544) = 1.12
Therefore, r/100 = 1.12-1 = 0.12
Or, the rate of interest is 12%.
The amount at the end of the third year is
A = 5000[1+12/100]^3 = 5000*1.404928 = Rs. 7024.64
Thus, the rate of interest, r = 12% and amount at the end of 3 years would be Rs. 7024.64
hope it helps you out marke me as brainlist
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