Question

determine the rate percent per annum, if rs 25000 amount s to rs 26010 in 6 months, interests being compound quarterly

Answer 1

Given principal, P = Rs 25000Amount, a = Rs 26010Time period = 6 months
That is n = 2 (Since interest is compounded quarterly)
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Answer 2

Answer:

The rate percent per annum is 2%.

Step-by-step explanation:

Compound interest (or compounding interest) exists as the interest on a loan or deposit computed based on both the initial principal and the accumulated interest from earlier periods.

Given principal, $P=$ Rs 25000

Amount, $a=$ Rs 26010

Time period $=6$ months

That is $n=2$ (Since interest is compounded quarterly)

Recall the Equation, $A=P\left(1+\frac{R}{100}\right)^{\frac{1}{n}}$

$&\Rightarrow 26010=25000\left(1+\frac{R}{100}\right)^{2}$

$&\Rightarrow \frac{26010}{25000}=\left(1+\frac{R}{100}\right)^{2}$

$&\Rightarrow\left(\frac{51}{50}\right)^{2}=\left(1+\frac{R}{100}\right)^{2}$

Simplifying,

$&\Rightarrow \frac{51}{50}=1+\frac{R}{100}$

Therefore,

$&\Rightarrow \frac{R}{100}=\frac{51}{50}-1=\frac{1}{50}$

We get,

$&\therefore \mathrm{R}=2 \%$

Hence the rate percent per annum is 2%.

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