Question

A principal becomes 8000 for 2 years 27000 for 5 years compound find rate of interest

Answer 1

Answer:

Step-by-step explanation:

3555.56

Step-by-step explanation:

Let us assume that x is the sum of money which is compounded at interest r%.

Then , after 2 years the amount becomes  {Given} ...... (1)

Again, after 5 years the amount becomes  {Given} ...... (2)

Now, dividing equation (2) by (1), we get

⇒ () =

⇒

= r=50%.

Now, from equation (1), we get x=8000

⇒

⇒ x=3555.56. (Answer)