In what time Rs. 6500 amount to Rs. 6825 at the rate of 6 p.c.p.a
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Answer:
a=p(1+
100
r
)
t
Principle = 6500.
Time = 2 years.
Rate = 5 percent and 6 percent.
a= 6500(1 + \frac{5}{100}) \times (1 + \frac{6}{100})a=6500(1+
100
5
)×(1+
100
6
)
a= 6500 \times \frac{21}{20} \times \frac{53}{50}a=6500×
20
21
×
50
53
Amount = 7234.5
Now, CI = 7234.5 - 6500
CI = 734.5
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