find the rate of compound interest at which 7000rupees amounts to 7717.50rupees in 2 years
rafeek3:
pls answer me.....
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r=5
because
a=p(1+r/100)^n
7717.5=7000(1+r/100)^2
7717.5/7000=(1+r/100)^2
square root of(7717.5/7000)=1.05
1.05=1+r/100
r/100=1.05-1=0.05
r=0.05*100=5
because
a=p(1+r/100)^n
7717.5=7000(1+r/100)^2
7717.5/7000=(1+r/100)^2
square root of(7717.5/7000)=1.05
1.05=1+r/100
r/100=1.05-1=0.05
r=0.05*100=5
In the square root how does 7717.5 came its 7717.50???
.50 or. 5 both are same u can take or not take no problem with the result
And one more doubt...
why we have to find the square root in this..
as we send square to other side it becomes square root
we did not multiply 7717.50 with 100
after finding square root and subtraction from1
we multiply with 100
thank you
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