In what time the compound amount of Rs 60000 at 10% rate is rs 79860?
1 answer:
Answer:
P= Rs 60000
A= Rs 79860
T=1 & 1/2 year = 3/2 years
= 3/2 x 2 = 3 half years
R= ?
Applying the formula A= P (1+r/100)^T
79860 = 60000 (1+ r/100)^3
79860/60000 = (1+r/100)^3
1331/1000 = (1+r/100)^3
root(3)(1331/1000) = (1+r/100)
11/10 = 1+r/100
11/10 -1 = r/100
1/10 = r/100
r= 10 %
Step-by-step explanation:
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