3 years ago

A tax of 20% is collected on every purchase at a supermarket.

Mathematics

1 answer:

mafiozo [28]3 years ago

5 0

The first three statements are correct while the last statement is incorrect.

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3 years ago

Find the annual rate of interest. Principal = 4600 rupees Period = 5 years Total amount = 6440 rupees Annual rate of interest =

Semmy [17]

Answer:

The rate of interest for compounded annually is 6.96 % .

Step-by-step explanation:

Given as :

The principal amount = Rs 4600

The time period = 5 years

The amount after 5 years = Rs 6440

Let The rate of interest = R %

<u>From compounded method</u>

Amount = Principal × $(1+\dfrac{\textrm rate}{100})^{\textrm Time}$

or, Rs 6440 = Rs 4600 × $(1+\dfrac{\textrm R}{100})^{\textrm 5}$

Or, $\frac{6440}{4600}$ = $(1+\dfrac{\textrm R}{100})^{\textrm 5}$

or, 1.4 = $(1+\dfrac{\textrm R}{100})^{\textrm 5}$

Or, $(1.4)^{\frac{1}{5}}$ = 1 + $\dfrac{R}{100}$

or, 1.0696 = 1 + $\dfrac{R}{100}$

or, $\dfrac{R}{100}$ = 1.0696 - 1

Or, $\dfrac{R}{100}$ = 0.0696

∴ R = 0.0696 × 100

I.e R = 6.96

Hence The rate of interest for compounded annually is 6.96 % . Answer

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2 years ago