A sum of money invested at compound interest | vedclass

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Question

Let $R$ be the rate of interest. We have,

$A 1=P\left(1+\frac{R}{100}\right)^{3}=800$

$P\left(1+\frac{R}{100}\right)^{3}=800$

Similarly $P\le

Vedclass · Accepted Answer

$5$

Vedclass · Answer

Let $R$ be the rate of interest. We have,

$A 1=P\left(1+\frac{R}{100}ight)^{3}=800$

$P\left(1+\frac{R}{100}ight)^{3}=800$

Similarly $P\left(1+\frac{R}{100}ight)^{4}=840$

$\frac{(2)}{(1)} \Rightarrow$

$\left(1+\frac{R}{100}ight)=\frac{840}{800}=1.05$

$	herefore$

$R=5 \%$

A sum of money invested at compound interest amounts to ₹ $800$ in $3$ years and to ₹ $840$ in 4 years. The rate of interest (In $\%$) per annum is

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