Question

Find the compound interest and the amount on 5,000 at the annual interest rate of 8% for 2 years compounded b. Half yearly a. quarterly​

Answer 1

Answer:

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Answer 2

Step-by-step explanation:

At what percentage rate will Rs. 2,000 amount to 2315.25 in 3 years at compound interest?

Ans. 5%

Amount = 2315.25

Time = 3 years and principal = 2000

Amount = P(1+ r/100)™

2315.25 = 2000(1+ r/100)3

2315.25/2000 = (1+r/100)3

9261/8000 = (1+r/100)power 3

Cube root 9261/8000 = 1+ r/100

21/20 = 1 + r/ 100

Now take the l.c.m. of 100 and cross multiply it by 21

2100/20 = 100 + r

105 = 100 + r

R = 5%