Question

what rate percent per annum will a sum of rs. 7500 gives rs.927 as compound interest in 2 years

Answer 1

Heya ☺

Given that

P = ₹7,500

C.I. = ₹927

T = 2 years

R = ?

Solution

When the interest is compounded annually

C.I. = P{(1+R/100)^n - 1}

=> 927 = 7,500{(100+R/100}^2 - 1}

=> 927/7,500 = (100+R/100)^2 - 1

=> 309/2,500 = (100+R/100)^2 - 1

=> 309/2,500 + 1 = (100+R/100=^2

=> 309+2,500/2,500 = (100+R/100)^2

=> √2,809/2,500 = 100+R/100

=> 53/50 = 100+R/100

=> 53 × 100 = 50(100+R)

=> 5,300 = 5,000 + 50R

=> 5,300 - 5,000 = 50R

=> 300 = 50R

=> R = 300/50

=> R = 6 % p.a.




Thanks

Answer 2

I hope this help you

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