Question

ram invested rs, 3000at the rate of x%for two year on compound interest and get total amount of rs 39675 if ram invested same amount at the rate of (x+5%) for two year on compound interest , then find how much interest will ram get? ​

Answer 1

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A

8% and Rs 3,779

For ,

N=1years

P=Rs3,000  

A=Rs3,240

=>S.I.=A−P=Rs240

We have S.I.=100PNR=1003,000×1×R=Rs240

=>R=8 %

And on interest being compounded for 3  years and R=8 %, Amount=P(1+100R)N=3,000×(1+1008)3=3,000×(1.083)=3,779.136  or Rs3,779