Question

At what rate of interest per annum will a sum of 5000 amount to 6050 in 10/3 yrs.

Answer 1

Answer:

6.3%

Step-by-step explanation:

amount=6050

principle=5000

si=a-p=6050-5000=1050

r=(si * 100)/(p * t)

=(1050 * 100)/(5000 * 10/3)

=63/10=6.3%