If rupees 40000 amounts to rupees 46305 in 1 complete 1/2year, compound interest payable half yearly, find the rate of interest per annum
Answers
I think i am in love with you!!!
(∩˃o˂∩)♡
♡♡♡♡♡♡♡♡
Answer:
Rate of interest is 10% p.a.
Step-by-step explanation:
Principal sum P = 40000
Final Amt A = 46305
No. of times interest is compounded in 1 year i.e. n = 2 (half year)
time of interest t = 1 1/2 or 3/2 yrs
So, compound interest formula we have is,
A = P [ 1 + r/n ] ^ nt where r is rate of interest
So putting our values,
46305 = 40000 [ 1 + r/2 ] ^3 { nt = 2 x 3/2 = 3 }
9261 = 8000 [ 1 + r/2 ] ^3
9261 / 8000 = [ 1 + r/2 ] ^3
[ 21 / 20 ] ^3 = [ 1 + r/2 ] ^3
As we are calculating positive value r we can cancel the powers of 3
21/20 = 1 + r/2
r/2 = 1/20
r = 1/10 or 0.1 or 10%
Therefore, rate of interest is 10% p.a.
<><><><><><>
brainliest plzz......
♡ ❣ ♡ ❣ ♡ ❣ ♡ ❣ ♡ ❣ ♡ ❣ ♡ ❣ ♡ ❣ ♡ ❣ ♡ ❣
Given :-
- Principal = Rs.40000
- Amount = Rs.46305
- Time = (3/2) years.
- Rate = compounded half yearly .
To Find :-
- The rate of interest per annum. ?
Solution :-
we know that, when interest is compounded half yearly ,
- Rate becomes half .
- Time becomes double.
so,
- Time = (3/2) * 2 = 3 years.
- Rate = Let half yearly is R% .
then,
→ P[1 + (R/100)]^T = A
→ 40000[1 + (R/100)]³ = 46305
→ [1 + (R/100)]³ = 46305/40000
→ [1 + (R/100)]³ = 9261/8000
→ [1 + (R/100)]³ = (21/20)³
cube root both sides,
→ 1 + (R/100) = (21/20)
→ (R/100) = (21/20) - 1
→ (R/100) = (21 - 20)/20
→ (R/100) = (1/20)
→ R = 5% .
therefore,
→ The rate of interest per annum = 5 * 2 = 10% (Ans.)
Learn more :-
CI in 2yr is Rs. 1600 and in 3 yrs it will be Rs. 1700. Find the rate of interest.
https://brainly.in/question/32463301