Find the rate when
principal = ₹4400, Amount = ₹5610 and time = 5 year 6 month
Please explain in step by step.
Share
Find the rate when
principal = ₹4400, Amount = ₹5610 and time = 5 year 6 month
Please explain in step by step.
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Answer:
Thus, n = 5.5 years. A = 5610 and P = 4400. 5610 = 4400 + 4400*5.5*r/100, since we have to find r. Thus, rate of interest is 5%
Verified answer
in this case, 5 years 6 months can be written as 5 6/12 = 5 1/2 or 5.5 years.
Thus, n = 5.5 years.
A = P + SI and SI = Pnr/100
A = 5610 and P = 4400.
5610 = 4400 + 4400*5.5*r/100, since we have to find r.
5610 - 4400 = 4400*5.5*r/100
1210 = 4400 * 5.5*r/100
Or r = 1210 * 100 / (4400*5.5)
r = 121000/24200 = 5%
Thus, rate of interest is 5%.