Question
A man invests ₹ 5000 at a certain rate of interest, compounded annually. At the end of one year, it amounts to ₹ 5600. The rate of interest per annum is
___ %.
___ %.
Answer:
:
Since the tenure is 1 year,the compound interest will be same as simple interest.
Amount = Principal + Interest
Interest = 5600 - 5000 = 600
Interest for one year =PRT100=600
R=100×6005000×1=12%
Was this answer helpful ?
:
Since the tenure is 1 year,the compound interest will be same as simple interest.
Amount = Principal + Interest
Interest = 5600 - 5000 = 600
Interest for one year =PRT100=600
R=100×6005000×1=12%
Was this answer helpful ?
More Questions on This Topic :
Latest Videos
Latest Test Papers
Submit Solution