Question

when interest is compounded annually certain sum becomes rs 882 in 2 years and rs 926.10 in 3 years. find the sum and rate of interest per annum ?​

Answer 1

Answer:

5.4%

Step-by-step explanation:

A = p(1+r)^n

882=p(1+r)^2

(882/p)^.5 =1+ r

926=p(1+r)^3

(926/p)^(1/3)=1+r

(926/p)^(1/3)= (882/p)^0.5

apply log on both sides

(1/3)log(926/p) = (1/2)log(882/p)

log926 - log p = (3/2) (log882-log p)

2.97- log p = 1.5 ×(2.95 - log p)

0.5 log p = 1.45

log p =2.9

p=794.33

r=5.4%

hope this helps

Answer 2

Good Morning have a great day