At what rate % per annum will rs 50000 to rs 86400 in 3 years if interest compounded annually

Posted by Rathi Kajal (Mar 20, 2017 11:15 p.m.) (Question ID: 4288)

  • Answers:
  • Ans. Amount (A)= 86400

    Time(n) = 3 years

    Principal (P)= 50000

    Let rate (r) = r%

    Then We Know,

    {tex}A = P \times ({1 +{r\over 100}})^n{/tex}

    {tex}=> 86400 = 50000\times ({1+{r\over 100}})^3{/tex}

    {tex}=> {86400\over 50000} = ({1+{r\over 100}})^3{/tex}

    {tex}=> {216\over 125} = ({1+{r\over 100}})^3{/tex}

    {tex}=> ({6\over 5})^3= ({1+{r\over 100}})^3{/tex}

    On comparing, We get

    {tex}=> ({6\over 5})= ({1+{r\over 100}}){/tex}

    {tex}=> {6\over 5} - 1= {r\over 100}{/tex}

    {tex}=> {1\over 5} = {r\over 100} => r = 20\%{/tex}

    Answered by Naveen Sharma (Mar 21, 2017 7:31 a.m.)
    Thanks (0)
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