Question

Find the rate percent at which, a sum of money becomes 4 9 times in 2 years.

Answer 1

Babu69 Virtuoso

we consider it as simple interest.

let principal be rs P rate be r% ,amount =rs

9P/4 so,SI= rs(9P/4-P) =rs ( 5P/4)

5P/4=(P×r×2)/100

or, 5/4=r/50

or,r=62.5 %(ans)

IF THE INTEREST BEING PAID COMPOUNDED ANNUALLY... THEN

9P/4=P×(1+r/100)^2

or,9/4=(1+r/100)^2

or,3/2=1+r/100 (taking square root ln both sides) so r=50 sorate of interest 50%(ans)

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