interest on certain sum of money increase by 3/25 of its every year and after 2 years its amount equal to Rs 6272 at compound interest of Rs5000 becomes Rs1655?
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interest on certain sum of money increase by 3/25 of its every year and after 2 years its amount equal to Rs 6272 at compound interest of Rs5000 becomes Rs1655?
Thanks
Koi bhi thanks mat do
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Answer:
GIVEN:
Principal = Rs. 5000, R = 10%, A = Rs. 6655
FORMULA USED:
A = P × [1 + R/100]T
CALCULATION:
Applying the formula:
6655 = 5000 × [1 + 10/100]T
⇒ [1.1]T = 6655 / 5000
⇒ [1.1]T = 1.331
⇒ [1.1]T = 1.13
⇒ T = 3
∴ Time period is 3 years
Answer
Given here ,
principal = Rs 5000 ,Rate = 10% Amount = 6655
formula used .
A = P × T
calculation ,
Applying the formula ,
6655 = 5000 × T
T = 6655 / 5000
= 1.331
= 1.13
hence , the time = 3
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