Question

What percent per annum compound interest would Rs 80000 amount to Rs 88200in two years, interest being compounded yearly . Also find the amount after 3 years at the above rate of compound interest .

Answer 1

Answer:

R= 5%, Amount after 3 years = 92610

Step-by-step explanation:

88200 = 80000*(1+R/100)^2

(1+R/100)^2 = 1.1025

1+R/100 = 1.05

R/100 = 0.05

R = 5%

Amount after 3 years = 80000(1+5/100)^3 = 92610

Answer 2

r = 5% and A = 92610.

Step-by-step explanation:

Since we have given that

Principal = Rs, 80000

Amount = Rs. 88200

Time = 2 years

So, it becomes,

$A=P(1+\dfrac{r}{100})^n\\\\88200=80000(1+\dfrac{r}{100})^2\\\\\dfrac{88200}{80000}=(1+\dfrac{r}{100})^2\\\\1.1025=(1+\dfrac{r}{100})^2\\\\\sqrt{1.1025}=1+\dfrac{r}{100}\\\\1.05=1+\dfrac{r}{100}\\\\1.05-1=\dfrac{r}{100}\\\\0.05=\dfrac{r}{100}\\\\0.05\times 100=r\\\\r=5\%$

And time = 3 years,

$A=80000(1+\dfrac{5}{100})^3\\\\A=80000(1+0.05)^3\\\\A=80000(1.05)^3\\\\A=92610$

Hence, r = 5% and A = 92610.

# learn more:

Find the amount and compound interest on rs.488000 for 3 years at the rate of 5% per annum compounded yearly.​

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