annur il Rs 7500 becomes Robooo in s years then find the rate of interest ofer BX Question annuril Rs 7500 becomes Robooo in s yearsthen find the rate of interest oferBX in progress 0 Math Ella 3 weeks 2021-09-04T18:02:22+00:00 2021-09-04T18:02:22+00:00 1 Answer 0 views 0

## Answers ( )

Answer:The rate of interest = 6%

Step-by-step explanation:

The formula for compound interest

A=P[1+\frac{R}{100}]^{N}A=P[1+100R]N

A – Amount

P – principle amount

R – rate of interest

N – number of years

To find Rate of interest

Here A = 8427, P = 7500, R = ?, and N = 2

By using the formula,

8427=7500[1+\frac{R}{100}]^{2}8427=7500[1+100R]2

\frac{8427}{7500}=[1+\frac{R}{100}]^{2}75008427=[1+100R]2

[1+\frac{R}{100}]^{2}=\frac{8427}{7500}[1+100R]2=75008427

1+\frac{R}{100}=\sqrt{\frac{8427}{7500}}1+100R=75008427

1+\frac{R}{100}=1.061+100R=1.06

\frac{R}{100}=1.06-1100R=1.06−1

\frac{R}{100}=0.06100R=0.06

R = 6%

Therefore the rate of interest = 6%

hope it helps you