Question

A sum of money,at compound interest amounts to RS.8100 in 5 years and RS.8748 in 6 years.find the rate percent.

Answer 1

Answer:

Step-by-step explanation:

A in I case -p(1+r/100)^5=8100. 1

A in sec case p(1+r/100)^6=8748. 2

Dividing 2 by 1

p(1+r/100)^6/p(1+r/100)^5=8748/8100

=

1+r/100=108/100

100+r=108

R=8percent

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Answer 2

Concept:

Amount is the total money that we get at the end of the year.

Principal is the initial amount that we invest.

Interest is the rate that we get on the principal amount

Interest can be of two types: Compound interest and simple interest.

Given:

Amount in five years is Rs.8100

Amount in six years is Rs.8748

Interest is compound interest on the amount.

Find:

We need to find the rate percent.

Solution:

Compound Interest during the 6thyear will be=8748-8100=Rs.648.

Compound interest in 6 years= (P×R×T)/100

Putting the values, we get:

648=(8100×R×1)/100

R=648/81

R=8%

Therefore, the rate percent on the sum of money is 8%.

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