Question

If ₹1000 valued saving certificate amounts to ₹2000 after 5 years . Find the rate of interest
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Answer 1

Answer:

P=1000

T=3 years

n=12×T

=12×3=36

R=8%

M.V=Pn+2×12P×n(n+1)×100R

=(1000×36)+241000×36×37×1008

=3600+4440

=40,440

Hence Matured value =Rs.40440

Step-by-step explanation:

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