I have already asked this question earlier but the link provided for a similar answer was a bit different. Please answer this question autonomously : At what rate percent per annum will a sum of Rs. 7500 give Rs.927 as compound interest in two years?
Answers
Answered by
10
Principal,P=Rs7500
Time,n=2yrs
Rate=?
CI=Rs927
Amount,A=P(1+R/100)^n
P+CI=P(1+R/100)^n
7500+927=7500(1+R/100)²
8427/7500=(1+R/100)²
2809/2500=(1+R/100)²
53/50=(1+R/100)
R/100=53/50-1
R/100=3/3/50
R=300/50=6
=6% p.a
Time,n=2yrs
Rate=?
CI=Rs927
Amount,A=P(1+R/100)^n
P+CI=P(1+R/100)^n
7500+927=7500(1+R/100)²
8427/7500=(1+R/100)²
2809/2500=(1+R/100)²
53/50=(1+R/100)
R/100=53/50-1
R/100=3/3/50
R=300/50=6
=6% p.a
Answered by
5
Solution:-
P = Rs. 7500 Time = 2 years A = 7500 + 927 = Rs. 8427 R = ?
A = P (1 +R/100)ⁿ
8427 = 7500 (1 + R/100)²
8427/7500 = (1 + R/100)²
1.1236 = (1 + R/100)²
√1.1236 = 1 + R/100
1.06 = 1 + R/100
R/100 = 1.06 - 1
R/100 = 0.06
Rate of interest = 6 %
Answer.
P = Rs. 7500 Time = 2 years A = 7500 + 927 = Rs. 8427 R = ?
A = P (1 +R/100)ⁿ
8427 = 7500 (1 + R/100)²
8427/7500 = (1 + R/100)²
1.1236 = (1 + R/100)²
√1.1236 = 1 + R/100
1.06 = 1 + R/100
R/100 = 1.06 - 1
R/100 = 0.06
Rate of interest = 6 %
Answer.
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