What is the rate of interest at which rs.150 becomes rs. 220 in 10 years?
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Please be Clear about Question if it is Simple Interest the rate is Different and if Compound Interest the answer is different
What is the rate of interest at which rs.150 becomes rs. 220 in 10 years?
(A) If Simple Interest is ASSUMED
A= PTR/100
220= 150*10*R/100
By Solving
R = 14.67%
(B) If Compound Interest is ASSUMED
A = P (1+i)n
220= 150*(1+i)10
(1+i)10 220 /150
By Solving
i = 1O√ 220/150 - 1
i= 4%
Hope It Helps .......... :)
What is the rate of interest at which rs.150 becomes rs. 220 in 10 years?
(A) If Simple Interest is ASSUMED
A= PTR/100
220= 150*10*R/100
By Solving
R = 14.67%
(B) If Compound Interest is ASSUMED
A = P (1+i)n
220= 150*(1+i)10
(1+i)10 220 /150
By Solving
i = 1O√ 220/150 - 1
i= 4%
Hope It Helps .......... :)
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