An amount of money at compound interest grows up to ₹ 3,840 in 4 years and up to ₹ 3,936 in 5 ye

English

Gujarati

Hindi

6.Interest

medium

An amount of money at compound interest grows up to ₹ $3,840$ in $4$ years and up to ₹ $3,936$ in $5$ years. Find the rate of interest (In $\%$)

A

$2.5$

B

$2$

C

$3.5$

D

$2.05$

Solution

(a) $\quad A=P\left(1+\frac{R}{100}\right)^{T}$

$\therefore \quad 3840=P\left(1+\frac{R}{100}\right)^{4}$

$3936=P\left(1+\frac{R}{100}\right)^{5}$

Dividing equation (2) by equation (1), we have

$\frac{3936}{3840}=1+\frac{R}{100} \Rightarrow \frac{R}{100}=\frac{3936}{3840}-1$

$=\frac{3936-3840}{3840}=\frac{96}{3840}$

$\Rightarrow \quad R=\frac{96}{3840} \times 100=2.5 \%$

Standard 13

Quantitative Aptitude

Share

Similar Questions

How many statements are useful for find this :

What is the rate of interest percent $p.a.$?

$Statements:$

$I$. The difference between the compound interest and simple interest earned in two years on the amount invested is ₹ $100$.

$II$. The amount becomes ₹ $19,500$ in three years on simple interest.

$III$.The simple interest accrued in two years on the same amount at the same rate of interest is ₹ $3,000$.

hard

The simple interest accrued on a certain principal is ₹ $2,000$ in five years at the rate of $4$ percent $p.a.$ What would be the compound interest (In ₹) accrued on the same principal at the same rate in two years?

hard

If the difference between $S.I.$ and $C.I.$ for $2$ years on a sum of money lent at $5 \%$ is $ 6,$ then the sum is (In ₹)

easy

If a sum of money placed at compound interest, compounded annually, doubles itself in $5$ years, then the same amount of money will be $8$ times of itself in (In $years$)

medium

The compound interest on a certain sum for $2$ years at $12 \%$ per annum, compounded annually is $Rs. 1272$. The simple interest (In $Rs.$) for that sum at the same rate and for the same period will be?

medium