Question

If a sum of Rs.5000 amounts to Rs.5832 in 2 years at the certain rate of Compound Interest payable annually,How much does Rs.5000 amount in 3 years with the same rate of interest​

Answer 1

Answer:

5000 is to grow into 5832 in 2 years. Then:

5832/5000=1.1664

Then:

1.1664=(1+r)² where r is the interest rate

√1.1664=√(1+r)²

1.08=1+r

r=.08

=8% rate of interest

Step-by-step explanation:

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Answer 2

Step-by-step explanation:

5000 is to grow into 5832 in 2 years. Then:

5832/5000=1.1664

Then:

1.1664=(1+r)² where r is the interest rate

√1.1664=√(1+r)²

1.08=1+r

r=.08

=8% interest rate …………..

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