Question

at what rate per cent per annum will Rs 5,000 amount to Rs 5,500 in 5/2 years
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Answer 1

Answer:

The ROI is 4%.

Step-by-step explanation:

A = P(1+it)

5500 = 5000 (1+i*5/2)

5500/5000= 1+5/2*i

1.1 = 1 + 5/2i

1.1-1 = 5/2 i

0.1 = 5/2 * i

0.1/5/2 = i

0.04 = i

∴ i = 4%