Grade 1010 grade maths
At what rate of compound interest will a sum of money become 25/16 times of itself in 2 years?
At what rate of compound interest will a sum of money become 25/16 times of itself in 2 years?
2 Answers
Arun
Dear student
let the money = x
hence
25x/16 = x ( 1 + r/100)2
5/4 = 1 + r/ 100
¼ = r/100
r = 25%
Regards
Vikas TU
Let the sum be P
ATQ = (25/16)P
25P/16 = P(1+R/100)^2
(5/4)^2 = (100+R)^2/(100)^2
500 = 400 + 4R
R = 25% Per annum
ATQ = (25/16)P
25P/16 = P(1+R/100)^2
(5/4)^2 = (100+R)^2/(100)^2
500 = 400 + 4R
R = 25% Per annum
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