Asked by Ranjeet kar
Karim deposited 9000 rupees after2years he withdraw 4000rs.at the end of 5yearshe get8300 RSVP. Find the rate of interest.
Answers
Answered by
Ranjeet kar
Pls solve the question.
Answered by
Reiny
On my "time graph" I picked year 5 as the focal-date
so 9000(1+i)^5 - 4000(1+i)^3 = 8300
let 1+i = x and divide each term by 100
90x^5 - 40x^3 = 83
There is no simple way to solve this equation, and you will
a method such as Newton's Method to solve it.
I went to Wolfram and got x = 1.08242
so i = .08242 or 8.242%
www.wolframalpha.com/input/?i=solve+90x%5E5+-+40x%5E3+%3D+83
check:
amount after 2 years = 90000(1.08242)^2 = 105446.975
withdraw 40000 leaves 65446.975
amount of that after another 3 years = 64446.975(1.08242)^3 = 82999.79
not bad eh?
so 9000(1+i)^5 - 4000(1+i)^3 = 8300
let 1+i = x and divide each term by 100
90x^5 - 40x^3 = 83
There is no simple way to solve this equation, and you will
a method such as Newton's Method to solve it.
I went to Wolfram and got x = 1.08242
so i = .08242 or 8.242%
www.wolframalpha.com/input/?i=solve+90x%5E5+-+40x%5E3+%3D+83
check:
amount after 2 years = 90000(1.08242)^2 = 105446.975
withdraw 40000 leaves 65446.975
amount of that after another 3 years = 64446.975(1.08242)^3 = 82999.79
not bad eh?