Question

Exercise 11.2 at what rate per annum should ruppees 12000 be given to get ruppees 17280 as amount at the end of 8 years.

Answer 1

Step-by-step explanation:

SI= Rs 17280- Rs 12000

= Rs 5280

SI for 1yr = Rs 5280/8

= Rs 660

Rate= (SI*100)/ principal

= Rs 660*100/ Rs 12000

= 66/12%

= 5.5%