At what rate percent will rs.500 amounts to rs 2000 in 10 years at compound interest?
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Using CI=P( (1+R/100)^t-1)
or CI= A- P
Here, P= 500 A=2000
Now,
2000-500 = 500( 1+ R/100)^10 -1)
(1500/500) +1 = (1 + R/100)^ 10
4 x 100x100x 100x100x 100x100x 100x100x 100x100 = (100 + R)^10
10th root of (4x100x100x 100x100x 100x100x 100x100x 100x100)= 100+R
10th root of 4= 1.15
1.15x 100 - 100 = R
R = 115-100
R= 15 %
Hope this helps you
or CI= A- P
Here, P= 500 A=2000
Now,
2000-500 = 500( 1+ R/100)^10 -1)
(1500/500) +1 = (1 + R/100)^ 10
4 x 100x100x 100x100x 100x100x 100x100x 100x100 = (100 + R)^10
10th root of (4x100x100x 100x100x 100x100x 100x100x 100x100)= 100+R
10th root of 4= 1.15
1.15x 100 - 100 = R
R = 115-100
R= 15 %
Hope this helps you
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