Question

Perry invested in property that cost him $1500. Five years later it was worth $3000. and 10 vears from his original purchase, it was worth $6000.

Answer 1

Rate of increase of Value = 14.87% per Annum compounded  if $1500 becomes 3000$ in 5 years & $6000 in 10 Years

Step-by-step explanation:

Investment = $1500

Five year Later = $3000

increase in value of Property = $3000 - $1500 = $1500

100% increase in Property value in 5 Years

Now in  next 5 Years increase  $6000 - $3000

= $3000

Again 100% increase in Property value in 5 Years

Either we can say property value getting Doubled every 5 Years

Property value is increasing at same rate compounded

3000 = 1500 ( 1 + R/100)⁵

=> 2 = (1 + R/100)⁵

=> R = 14.87%

Rate of increase of Value = 14.87% per Annum compounded

Learn More:

Find the compound interest on rs 2000 for three years

https://brainly.in/question/8135807

Calculate the compound interest

https://brainly.in/question/3063332