In 3 years, the sum of 18,200 becomes 20,111. What is the rate of interest?
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Answered by
1
Answer:
149668
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Answered by
1
Let pricipal amount be p
,time is 3 years ,
rate is 10% per year and
amount =23400 .
then
p
+
p
×
r
×
t
100
=
a
m
o
u
n
t
.
⇒
p
+
p
×
10
×
3
100
=
23400
.
⇒
13
p
10
=
23400
⇒
p
=
18000
Amount after 2 year , if interest is compounded will be
A
=
p
(
1
+
r
100
)
t
⇒
A
=
18000
(
1
+
10
100
)
2
A
=
18000
(
11
10
)
2
⇒
A
=
R
s
.
21780
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