at what rate percent per annum will ₹50,000 amount to ₹86,400 in 3 years,if the interest is compounded annually?
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Answers
Answered by
523
Given :-
- ₹50,000 amount to ₹86,400 in 3 years,if the interest is compounded annually.
To find :-
- Rate of percent
Solution :-
- Principal (P) = Rs.50000
- Amount (A) = Rs.86400
- Time (T) = 3 years
As we know that
→ A = P(1 + R/100)ⁿ
Where " P " is Principal, " A " is amount, " R " is rate of interest and " n " is time.
- According to the question
→ A = P(1 + R/100)ⁿ
→ 86400 = 50000(1 + R/100)³
→ 86400/50000 = (1 + R/100)³
→ 864/500 = (1 + R/100)³
→ 216/125 = (1 + R/100)³
→ ³√216/125 = 1 + R/100
→ 6/5 = 1 + R/100
→ 6/5 - 1 = R/100
→ 6 - 5/5 = R/100
→ 1/5 = R/100
→ 100 = 5R
→ R = 100/5
→ R = 20%
Therefore,
- Rate of interest is 20%
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Answered by
56
Answer:
Ans. Amount (A)= 86400
Time(n) = 3 years
Principal (P)= 50000
Let rate (r) = r%
Then We Know,
A=P×(1+r100)n
=>86400=50000×(1+r100)3
=>8640050000=(1+r100)3
=>216125=(1+r100)3
=>(65)3=(1+r100)3
On comparing, We get
=>(65)=(1+r100)
=>65−1=r100
=>15=r100=>r=20%
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