Mr. raghava has deposited rs. 8000 with a finance company for a period of one year . the company credits the interest quarterly. he received rs 9,724.05 after one year. find the rate of interest per cent per annum.
Answers
Answered by
0
Deposited money p= 8000
time = 1yr, rate = ?
after 1 year:
amount received = 9724.05
interest credited in 1 yr
= amount - principal
= 9724.05 - 8000=1724.05
Interest (px r × t)/ 100 = X
1724.05 (8000 × r × 1) / 100 = X
r = 1724.05 ÷ 80 = 21.5% per annum
Answer:
rate of interest per annum = 21.5 %
Step-by-step explanation:
please mark me as brainilist
Similar questions