Question

At what rate % per annum compound interest will Rs5000 amount to 5832 in2 years?

Answer 1

A = 5832
P = 5000
A = P*[(1 + r/100)^n]

5832 = 5000[(1 + r/100)]^2
5832/5000 = [(1 +r/100)]^2
2916/2500 = [(1 +r/100)]^2
54/50 = [1 + r/100].......  (took square root on both sides)
54/50 - 1 = r/100
4/50 = r/100
r = 8%
Hence rate = 8% 

Answer 2

Heya ☺

Given that

A = ₹5,832

P = ₹5,000

T = 2 years

Solution

A = P(1+R/100)^n

=> 5,832 = 5,000(100+R/100)^2

=> 5,832/5,000 = (100+R/100)^2

=> √2,916/2,500 = 100+R/100

=> 54/50 = 100+R/100

=> 54 × 100 = 50(100+R)

=> 5,400 = 5,000 + 50R

=> 5,400 - 5,000 = 50R

=> 400 = 50R

=> R = 400/50

=> R = 8 % p.a.




Thanks