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Rs 4800 become 7500 at a certain rate of interest compounded annually in 2 years 8 months. then in how many years rs 19200 will amounts to 37500 at the same rate of interest compounded annually?
Most Upvoted Answer
Rs 4800 become 7500 at a certain rate of interest compounded annually ...
Calculation of Interest Rate:
To find the interest rate, we can use the compound interest formula:
A = P(1 + r/n)^(nt)
where A is the final amount, P is the principal amount, r is the interest rate, n is the number of times interest is compounded per year, and t is the time in years.
Calculation of Interest Rate:
Using the given values, we get:
7500 = 4800(1 + r/12)^(2*12/12 + 8/12)
Simplifying this equation, we get:
(1 + r/12)^(32/12) = 7500/4800
Taking the 32/12th root on both sides, we get:
1 + r/12 = (7500/4800)^(1/32)
Simplifying this equation, we get:
r/12 = 0.0991
r = 1.189%
Calculation of Time:
To find the time it takes for Rs 19200 to become Rs 37500 at the same interest rate, we can use the same formula:
A = P(1 + r/n)^(nt)
where A is now 37500, P is 19200, r is 1.189%, n is 1 (since interest is compounded annually), and t is what we want to find.
Simplifying this equation, we get:
37500 = 19200(1 + 0.01189)^(t)
Taking the natural logarithm of both sides, we get:
ln(37500/19200) = t ln(1.01189)
Simplifying this equation, we get:
t = ln(37500/19200) / ln(1.01189)
t = 6.83 years (approx.)
Conclusion:
Therefore, it will take approximately 6.83 years for Rs 19200 to become Rs 37500 at the same rate of interest compounded annually.
To find the interest rate, we can use the compound interest formula:
A = P(1 + r/n)^(nt)
where A is the final amount, P is the principal amount, r is the interest rate, n is the number of times interest is compounded per year, and t is the time in years.
Calculation of Interest Rate:
Using the given values, we get:
7500 = 4800(1 + r/12)^(2*12/12 + 8/12)
Simplifying this equation, we get:
(1 + r/12)^(32/12) = 7500/4800
Taking the 32/12th root on both sides, we get:
1 + r/12 = (7500/4800)^(1/32)
Simplifying this equation, we get:
r/12 = 0.0991
r = 1.189%
Calculation of Time:
To find the time it takes for Rs 19200 to become Rs 37500 at the same interest rate, we can use the same formula:
A = P(1 + r/n)^(nt)
where A is now 37500, P is 19200, r is 1.189%, n is 1 (since interest is compounded annually), and t is what we want to find.
Simplifying this equation, we get:
37500 = 19200(1 + 0.01189)^(t)
Taking the natural logarithm of both sides, we get:
ln(37500/19200) = t ln(1.01189)
Simplifying this equation, we get:
t = ln(37500/19200) / ln(1.01189)
t = 6.83 years (approx.)
Conclusion:
Therefore, it will take approximately 6.83 years for Rs 19200 to become Rs 37500 at the same rate of interest compounded annually.
Community Answer
Rs 4800 become 7500 at a certain rate of interest compounded annually ...
7500= 4800(1+r/100)^8/3
on solving for r, we get r as
r = [(5/4)^3/4 -1]*100
37500 = 19200[1+r/100]^n
substituting value of r here
375/192= [1+(5/4)^3/4 -1]^n
(5/4)^3 = (5/4)^(3n/4)
3=3n/4
n=4
on solving for r, we get r as
r = [(5/4)^3/4 -1]*100
37500 = 19200[1+r/100]^n
substituting value of r here
375/192= [1+(5/4)^3/4 -1]^n
(5/4)^3 = (5/4)^(3n/4)
3=3n/4
n=4
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Rs 4800 become 7500 at a certain rate of interest compounded annually in 2 years 8 months. then in how many years rs 19200 will amounts to 37500 at the same rate of interest compounded annually?
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Rs 4800 become 7500 at a certain rate of interest compounded annually in 2 years 8 months. then in how many years rs 19200 will amounts to 37500 at the same rate of interest compounded annually? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Rs 4800 become 7500 at a certain rate of interest compounded annually in 2 years 8 months. then in how many years rs 19200 will amounts to 37500 at the same rate of interest compounded annually? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Rs 4800 become 7500 at a certain rate of interest compounded annually in 2 years 8 months. then in how many years rs 19200 will amounts to 37500 at the same rate of interest compounded annually?.
Rs 4800 become 7500 at a certain rate of interest compounded annually in 2 years 8 months. then in how many years rs 19200 will amounts to 37500 at the same rate of interest compounded annually? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Rs 4800 become 7500 at a certain rate of interest compounded annually in 2 years 8 months. then in how many years rs 19200 will amounts to 37500 at the same rate of interest compounded annually? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Rs 4800 become 7500 at a certain rate of interest compounded annually in 2 years 8 months. then in how many years rs 19200 will amounts to 37500 at the same rate of interest compounded annually?.
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