Find the rate of compound interest on Rs 4000 so that it can amount to Rs 4630.50 in 3 years
Answers
Answered by
10
Answer:
- Rate of interest = 5 %.
- Compound interest = Rs. 630.5
Step-by-step explanation:
Given that,
- Principal (P) = Rs. 4000
- Amount (A) = Rs. 4630.50
- Time (t) = 3 years
As we know,
↪ A = P(1 + R/100)^t
[ Putting values ]
↪ 4630.50 = 4000(1 + R/100)³
↪ 9261/2 = 4000(1 + R/100)³
↪ 9262/8000 = (1 + R/100)³
↪ (21/20)³ = (1 + R/100)³
↪ 21/20 = 1 + R/100
↪ 105 = R + 100
↪ R = 105 - 100
↪ R = 5 %
No, we know,
↪ Compound interest = Amount - Principal
↪ Compound interest = Rs. (4630.50 - 4000)
↪ Compound interest = Rs. 630.5
Answered by
0
Answer:
r=5%
p=4000
a=4630.50
t=?
a=p(1+r/100)
Step-by-step explanation:
4630.50 = 4000(1+5/100)
=4630.50×2/4000×2
=9261/8000
=(21/20)³ = (21/20)
= 21 cancel by 21
=20 cancel by 20
= reamanig 3
Ans:- 3 year is your answer
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