If R640 amounts to R768 in 2years 6months,what will R850 amount to in 3years at the same rate per cent per annum?
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Interest = 768-640 = 128
Rate = 128*100/640*2 =10%
Amount of 850 in 3 years at same rate= 850+850*10*3/100 = 850+255=1105
Formula of rate = Interest*100/(principle*time)
Formula for amount = principle + interest
Formula for interest = principle*rate*time/100
Rate = 128*100/640*2 =10%
Amount of 850 in 3 years at same rate= 850+850*10*3/100 = 850+255=1105
Formula of rate = Interest*100/(principle*time)
Formula for amount = principle + interest
Formula for interest = principle*rate*time/100
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