Question

Compound interest on a sum of money at simple interest amounts to 1624 in 4 years and 1736 in 6 years. The rate of interest per annum is ?




$solve \: fast \:urgent \: \\ give \: right \: solution$
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Answer 1

Answer:

12%

Step-by-step explanation:

Answer 2

Given :-

• Compound interest on a sum of money at simple interest amounts to 1624 in 4 years and 1736 in 6 years.

To find :-

• the rate of per annum

Solution :-

formula = p × r × t

now according to question :-

$\sf⟼ \frac{1624 - n}{4} = \frac{1736 - n}{6}$

$\sf⟼6(1624 - n) = 4(1736 - n)$

$\sf⟼9744 - 6n = 6944 - 4n$

$\sf⟼ - 6n + 4n = 6944 - 9744$

$\sf⟼ - 2n = - 2800$

$\sf⟼n = 1400$

$\sf⟼now \: interest = 1624 - 1400$

$\sf⟼interest = 224$

$\sf⟼ \frac{224}{1400} \times 100 = 16$

$\sf⟼interest \: per \: annum = 16\%$

so therefore rate of interest per annum is 16%