Question

At what rate. A sum of as 6000 will amounts to as 7800 in 5 years?'

Answer 1

Answer:

6 % p.a

Step-by-step explanation:

p = $6000

a = $7800

s.i = a-p = 7800-6000 = $1800

t = 5 yrs

r = ?

s = p × r × t / 100

put the value

1800 = 6000 × r × 5 / 100

1800 = 60 × r × 5

1800 = 300 × r

1800 / 300 = r

r = 6

.: at 6% p.a the amount is 7800