Question

At what rate per annum will a sum RS 6250 becapound to RS 7840 in 2 years

Answer 1

Given :-

Amount = 7840

Principal = 6250

Interest = A-P

=7840-6250 = 1590.

Time = 2 years.

Rate = S.I. * 100/ P * T

= 1590*100/6250*2

= 50.88 % per annum.

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Answer 2

principal = ₹6250

time = 2 years

let rate = r% per annum

AMOUNT = 7840

P(1+R/100) ^t= 7840

6250(1+R/100)^2=7840

(1+R/100)^2 = 7840/6250

(1+R/100)^2 = (28/25)^2

R/100=28/25-1

R/100=3/25

R = 3/25×100

R= 12%