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divergent07:
rate is 6.5%
5671.125 amount
hope my answers are correct
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rate is 6.5%
amount=rs.5671.125
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Step-by-step explanation:
Given, P = 5000, A = 5325, n = 1 year.
(i) Rate of interest:
A = P(1 + r/100)ⁿ
⇒ 5325 = 5000(1 + r/100)
⇒ 1.065 = 1 + r/100
⇒ 1.065 - 1 = r/100
⇒ 0.065 = r/100
⇒ r = 6.5%
(ii) Amount at the end of 2nd year:
Time = 2 years, R = 6.5
A = 5000(1 + 6.5/100)²
= 5000(1 + 0.065)²
= 5671.125.
Hope it helps!
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