Question

determine rate of interest at which a sum of money will become 216 / 125 times the original amount in one on one by two years if the interest is compounded annually​

Answer 1

Step-by-step explanation:

Let the principal be X

Let the principal amount be ₹ X and the rate of interest be R% per annum.

For the interest compounded half yearly:

Time = 3/2 years = 2×3/2= 3years

Rate of interest (R%) = R/2

Given: amount at the end of 3 years must become to 216X/125

A= 216X/125

A= P(1+R/00)^n

216P/125= X ( 1+ R/200)³

216/125 = ( 1+ R/200)³

(6/5)³ = ( 1+ R/200)³

(6/5) = ( 1+ R/200)

6/5-1 = R/200

(6-5)/5 = R/200

1/5 = R/200

R= 200/5 = 40%

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