given principal is 2000 amount is 26620 Taken 3 years find the rate ? with full method
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Let the sum be Rs x.
We know that:
CI = A – P
= P(1+R100)n – P
= P[(1+R100)n−1]
164 = x[(1+5100)2−1]
164 = x[(1.05)2−1]
x = 1640.1025
x = 1600
Thus, the required sum is Rs 1600
angle3644:
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Hii !!!!!
YOUR ANSWER
Principal= Rs.2000
Amount= Rs. 26620
Time = 3 years
Interest = Amount - Principal
= 26620 -2000
= 24620
We know that :--
Interest= P × R× T / 100
24620 = 2000 × R × 3/100
Then You will get your Answer
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