3) At what rate per cent will ₹ 16000 amount to₹ 20000 in two year

1.	3) At what rate per cent will ₹ 16000 amount to₹ 20000 in two years? 4) In what time will a sum of money double itself at 10 % per annum? 5) Rohit deposited some money in a saving account. He got ₹ 12000 as simple interest after 5 years. If the interest is calculated at the rate of6 % per annum, what was the amount that he deposited?
Answer» Following is the formula for CALCULATING COMPOUND interest when time period is SPECIFIED in years and interest rate in % per annum. A = P(1+r/n)nt CI = A-P Where, CI = Compounded interest A = Final amount P = Principal t = Time period in years n = Number of compounding periods per year r = Interest rate

3) At what rate per cent will ₹ 16000 amount to₹ 20000 in two years? 4) In what time will a sum of money double itself at 10 % per annum? 5) Rohit deposited some money in a saving account. He got ₹ 12000 as simple interest after 5 years. If the interest is calculated at the rate of6 % per annum, what was the amount that he deposited?

Answer»

Following is the formula for CALCULATING COMPOUND interest when time period is SPECIFIED in years and interest rate in % per annum.

A = P(1+r/n)nt

CI = A-P

Where,

CI = Compounded interest

A = Final amount

P = Principal

t = Time period in years

n = Number of compounding periods per year

r = Interest rate