Question

what sum will amount to Rs.6000 in 5years at p.c.p.a. compound intrest​

Answer 1

Answer:

At what rate per cent per annum will Rs. 6000 amount to Rs. 6615 in 2 years when interest is compounded annually?

Answer

Amount=P(1+

100

r

)

n

⇒6,615=6,000(1+

100

r

)

2

⇒(1+

100

r

)

2

=

6,000

6,615

⇒1+

1100r

=

20

21

⇒r=5%

At 5% per annum the sum of Rs 6,000 amounts to Rs 6,615 in 2 years when the interest is compounded annually.

Step-by-step explanation:

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