Asked by Jatin
Money invested in compound interest amount to rs 27783 in 3 years and rs 26460 in 2 years what is the rate percent of interest ?
Answers
Answered by
Anonymous
26460= P (1+r)^2
27783 = P (1+r)^3
P = 26460/(1+r)^2
27783 = [26460/(1+r)^2] (1+r)^3
(1+r) = 27783/26460
(1+r) = 1.05
5%
27783 = P (1+r)^3
P = 26460/(1+r)^2
27783 = [26460/(1+r)^2] (1+r)^3
(1+r) = 27783/26460
(1+r) = 1.05
5%
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.