Rakesh kept Rs 60000 in a bank and he received Rs 72600 after 2 years find rate of interest p.a compounded annually. 11% 12% 14% 8%
Answers
Step-by-step explanation:
P = ₹ 60,000
Rate = 12% per annum = 6% per half year
n = 6 months = 1 half year
\text { Amount, } A \quad=P\left(1+\frac{R}{100}\right)^{n} Amount, A=P(1+
100
R
)
n
=₹ \left[60000\left(1+\frac{6}{100}\right)^{1}\right][60000(1+
100
6
)
1
]
=₹ \left[60000\left(1+\frac{3}{50}\right)^{1}\right][60000(1+
50
3
)
1
]
= ₹ \left[60000 \times \frac{53}{50}\right][60000×
50
53
]
= ₹ 63600
ii. There are 2 half years in 1 year.
n = 2
\text { Amount, } A \quad=P\left(1+\frac{R}{100}\right)^{n} Amount, A=P(1+
100
R
)
n
=₹ \left[60000\left(1+\frac{6}{100}\right)^{2}\right][60000(1+
100
6
)
2
]
=₹ \left[60000\left(1+\frac{3}{50}\right)^{2}\right][60000(1+
50
3
)
2
]
= ₹ \left[60000 \times \frac{53}{50} \times \frac{53}{50}\right][60000×
50
53
×
50
53
]
= ₹ 67416
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Step-by-step explanation:
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