Question

At what rate percent annum will Rs. 3600 amount to Rs. 4734 in $3\frac{1}{2}$ years?

Answer 1

We have,

$P=Rs.3600$

$A=Rs.4734$

$T=3\frac{1}{2}=\frac{7}{2}years$

$R=?$

We know that

$A=P+S.I$

$S.I=\frac{PRT}{100}$

Therefore,

$A-P=\frac{PRT}{100}$

$4734-3600=\frac{3600\times R\times \frac{7}{2}}{100}$

$1134=36\times R\times \frac{7}{2}$

$1134=18\times R\times 7$

$R=9\%$

Hence, this is the answer.