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A sum of money compounded annually becomes Rs1,140 in two years and Rs.1,710 in three years. Find the rate of interest per annum.
- a)30%
- b)40%
- c)50%
- d)60%
Correct answer is option 'C'. Can you explain this answer?
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A sum of money compounded annually becomes Rs1,140 in two years and Rs...
Most Upvoted Answer
A sum of money compounded annually becomes Rs1,140 in two years and Rs...
Option C
easily u can do it by calculator
just click green button then press the amount ₹1140 then simply do
1140 +50% u will get the amount₹ 1710
see options and then just add %age value to the 2nd yr value and then 3rd yr amount matches with any option the that is your answer
hope u get it
Thankyou
easily u can do it by calculator
just click green button then press the amount ₹1140 then simply do
1140 +50% u will get the amount₹ 1710
see options and then just add %age value to the 2nd yr value and then 3rd yr amount matches with any option the that is your answer
hope u get it
Thankyou
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A sum of money compounded annually becomes Rs1,140 in two years and Rs...
Given:
Amount after 2 years = Rs. 1,140
Amount after 3 years = Rs. 1,710
To find:
Rate of interest per annum
Solution:
Let the principal amount be P and the rate of interest per annum be r.
Amount after 2 years can be calculated using the formula for compound interest:
A = P(1 + r/100)^n
where A is the amount, P is the principal, r is the rate of interest per annum and n is the number of years.
Substituting the given values, we get:
1,140 = P(1 + r/100)^2
Solving for P, we get:
P = 1,140 / (1 + r/100)^2
Similarly, amount after 3 years can be calculated as:
1,710 = P(1 + r/100)^3
Substituting the value of P from the previous equation, we get:
1,710 = (1,140 / (1 + r/100)^2)(1 + r/100)^3
Simplifying, we get:
1,710 = 1,140(1 + r/100)
1 + r/100 = 1,710 / 1,140
1 + r/100 = 1.5
r/100 = 0.5
r = 50%
Therefore, the rate of interest per annum is 50%.
Hence, option (c) is the correct answer.
Amount after 2 years = Rs. 1,140
Amount after 3 years = Rs. 1,710
To find:
Rate of interest per annum
Solution:
Let the principal amount be P and the rate of interest per annum be r.
Amount after 2 years can be calculated using the formula for compound interest:
A = P(1 + r/100)^n
where A is the amount, P is the principal, r is the rate of interest per annum and n is the number of years.
Substituting the given values, we get:
1,140 = P(1 + r/100)^2
Solving for P, we get:
P = 1,140 / (1 + r/100)^2
Similarly, amount after 3 years can be calculated as:
1,710 = P(1 + r/100)^3
Substituting the value of P from the previous equation, we get:
1,710 = (1,140 / (1 + r/100)^2)(1 + r/100)^3
Simplifying, we get:
1,710 = 1,140(1 + r/100)
1 + r/100 = 1,710 / 1,140
1 + r/100 = 1.5
r/100 = 0.5
r = 50%
Therefore, the rate of interest per annum is 50%.
Hence, option (c) is the correct answer.
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A sum of money compounded annually becomes Rs1,140 in two years and Rs.1,710 in three years. Find the rate of interest per annum.a)30%b)40%c)50%d)60%Correct answer is option 'C'. Can you explain this answer?
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