o. At what rate of interest per annum will a sum of 7 8,000 amount to ? 9,260 in 3 years?
Answers
Step-by-step explanation:
Given: P= 640, A= 774.40, n=2 years, r=?
We know, A=P(1+
100
r
)
n
∴774.40=640(1+
100
r
)
2
640
774.40
=(1+
100
r
)
2
64000
77440
=(1+
100
r
)
2
100
121
=(1+
100
r
)
2
(
10
11
)
2
=(1+
100
r
)
2
10
11
=1+
100
r
100
r
=
10
11
−1
100
r
=
10
11−10
100
r
=
10
1
r=
10
100
=10
Rate r=10% per annum.
Answer:
Principal=7800
Principal=7800Amount=9260
Principal=7800Amount=9260Simple interest=Amount-Principal
Principal=7800Amount=9260Simple interest=Amount-Principal =9260-7800=1460
Principal=7800Amount=9260Simple interest=Amount-Principal =9260-7800=1460T= 3 years
Principal=7800Amount=9260Simple interest=Amount-Principal =9260-7800=1460T= 3 yearsRate of interest= Simple interest ×100/Principal× Time
Principal=7800Amount=9260Simple interest=Amount-Principal =9260-7800=1460T= 3 yearsRate of interest= Simple interest ×100/Principal× TimeR=1460×100/7800×3
Principal=7800Amount=9260Simple interest=Amount-Principal =9260-7800=1460T= 3 yearsRate of interest= Simple interest ×100/Principal× TimeR=1460×100/7800×3=56.15
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