Mr. Lalit invested $R s 5000$ at a certain rate of interset, compounded annually for two years. At the end of first it amounts to $R s 5325$ . Calculate.
The rate of interest.

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Solution

$\begin{matrix} A = P {[1 + \frac{x}{100}]}^{n} 5325 = 5000 {[1 + \frac{x}{100}]}^{2} 1.031 = 1 + \frac{x}{100} 0.031 \times 100 = x ∴ x = 3.1 \end{matrix}$
Hence,
rate of interest $= 3.1 % (a p p r o x)$

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Mr. Lalit invested Rs 5000 at a certain rate of interset, compounded annually for two years. At the end of first it amounts to Rs 5325. Calculate.The rate of interest.

A=P[1+x100]n5325=5000[1+x100]21.031=1+x1000.031×100=x∴x=3.1Hence, rate of interest =3.1%(approx)

Mr. Lalit invested $R s 5000$ at a certain rate of interset, compounded annually for two years. At the end of first it amounts to $R s 5325$ . Calculate.
The rate of interest.

$\begin{matrix} A = P {[1 + \frac{x}{100}]}^{n} 5325 = 5000 {[1 + \frac{x}{100}]}^{2} 1.031 = 1 + \frac{x}{100} 0.031 \times 100 = x ∴ x = 3.1 \end{matrix}$
Hence,
rate of interest $= 3.1 % (a p p r o x)$