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Sum of money lent at compound interest yields RS.100 at the end of 1 st year and RS.105 at the end of 2nd year. The rate percent per annum PLEASE GIVE ANSWER ACCORDING TO CLASS 8TH |
| Answer» HI guys. PLS MARK ME AS BRAINLISTStep-by-step EXPLANATION:At the end of the 1st YEAR: Amount = 100, Time = 1 year, principal = P. We know that A = P(1 + r/100)^n 100 = P(1 + r/100)^1 100 = P(1 + r/100) -------- (1). At the end of the 2nd year: GIVEN Amount = 105,Time = 2 years, Principal = P We know that A = P(1 + r/100)^n 105 = P(1 + r/100)^2 ------------------ (2) On solving (1) & (2), we get (1 + r/100) = 105/100 1 + r/100 = 1.05 100 + r = 105 r = 5%. Therefore the rate of INTEREST per annum = 5%. Hope this helps! | |