An amount of money at compound interest grows | vedclass

Name: PDF Generator App | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

$A=P\left(1+\frac{r}{100}\right)^{t}$

$3840=P\left(1+\frac{r}{100}\right)^{4}$

$3936=P\left(1+\frac{r}{100}\right)^{5}$

On dividing Eq. (ii)

Vedclass · Accepted Answer

$2.5$

Vedclass · Answer

$A=P\left(1+\frac{r}{100}ight)^{t}$

$3840=P\left(1+\frac{r}{100}ight)^{4}$

$3936=P\left(1+\frac{r}{100}ight)^{5}$

On dividing Eq. (ii) by Eq. (i), we get

$\frac{3936}{3840}=1+\frac{ r }{100} \Rightarrow \frac{3936}{3840}-1=\frac{ r }{100}$

$\Rightarrow \frac{3936-3840}{3840}=\frac{ r }{100}$

$\Rightarrow \frac{96}{3840}=\frac{r}{100} \Rightarrow r=\frac{96 	imes 100}{3840}$

$	herefore \quad r =2.5 \%$ per annum

An amount of money at compound interest grows up to $Rs. 3840$ in $4$ $years$ and up to $Rs. 3936$ in $5$ $years$. Find the rate of interest (In $\%$) ?

Similar Questions

The compound interest on a certain sum of money for $2$ years at $5 \%$ per annum is ₹ $410 .$ The simple interest (In ₹) on the same sum at the same rate and for the same time is

A sum of money placed at compound interest doubles itself in $5 \,years$. It will amount to eight times itself at the same rate of interest in (In $years$)

Sita deposited ₹ $5,000$ at 10\% simple interest for $2$ years. How much more money (In ₹) will Sita have in her account at the end of two years, if it is compounded semi-annually?

The compound interest earned by Shivam on a certain amount at the end of $2$ years at the rate of $8 \,p.c.p.a.$ was $Rs. 1414.4 .$ What was the total amount that Shivam got back at the end of $2$ years in the form of principal plus interest earned (In $Rs.$) ?

What would be the compound interest (In $Rs.$) accrued on an amount of $Rs. 7850$ at the rate of $14$ $p.c.p.a.$ in $2$ years?