(3) ,rhcaThe compound interest accrued on am of Rs. 7,500/- in two yea

1.	(3) ,rhcaThe compound interest accrued on am of Rs. 7,500/- in two years is Rs927/-, What would be the rate ofinterest p.c.p.a. ?u.
Answer» For compound interestA = P(1 + R/100)^nA = 7500+927, P = 7500, n = 2, R =? 8427 = 7500(1 +R/100)^2(1 + R/100) = (2809/2500)^1/2(1 + R/100) = 53/50R/100 = (53-50)/50R = 3*100/50 = 6% Rate of Interest = 6%

(3) ,rhcaThe compound interest accrued on am of Rs. 7,500/- in two years is Rs927/-, What would be the rate ofinterest p.c.p.a. ?u.

Answer»

For compound interestA = P(1 + R/100)^nA = 7500+927, P = 7500, n = 2, R =?

8427 = 7500(1 +R/100)^2(1 + R/100) = (2809/2500)^1/2(1 + R/100) = 53/50R/100 = (53-50)/50R = 3*100/50 = 6%

Rate of Interest = 6%