Question

find the rate at which rupees 4000 will give rupees 630.50 as compound interest in 9 month interest being compounded quarterly​

Answer 1

Answer:

20%

Step-by-step explanation:

Given, P = RS. 4000, n = 9 months = 34yr

and CI= RS. 630.

Amount = P + CI = 4000 + 630.50 = rs. 4630.50

According to the formula,

Amount = P(1+R100×4)4n

=> 4630.50=4000(1+R400)4×3/4

=> 4630.50=4000(400+R400)3

=> 4630.504000=(400+R400)3

=> 92618000=(400+R400)3

=> (2120)3=(400+R400)3

=> 400+R400=2120

=> 400+R=21×20=420

R=420-400=20%