Question

a sum of Rs1000 becomes Rs2315 after some time at 5% per annum at compound interest. Find the time in years​

Answer 1

Step-by-step explanation:

5% Amount = 2315.25 Time = 3 years and principal = 2000 Amount ... A sum on compound interest becomes 9 times in 15 years.

Answer 2

Answer:

Ans. 5%

Amount = 2315.25

Time = 3 years and principal = 2000

Amount = P(1+ r/100)™

2315.25 = 2000(1+ r/100)3

2315.25/2000 = (1+r/100)3

9261/8000 = (1+r/100)power 3

Cube root 9261/8000 = 1+ r/100

21/20 = 1 + r/ 100

Now take the l.c.m. of 100 and cross multiply it by 21

2100/20 = 100 + r

105 = 100 + r

R = 5%