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ICSE Class 9 Answered

THE COMPOUND INTEREST, CALCULATED YEARLY, ON A CERTAIN SUM OF MONEY FOR THE SECOND YEAR IS Rs.864 FOR THE THIRD YEAR IS Rs.933.12 . CALCULATE THE RATE OF INTEREST AND THE COMPOUND INTEREST ON THE SAME SUM AND AT THE SAME RATE, FOR THE FOURTH YEAR.
Asked by Siddharthjaiswal7800 | 18 Feb, 2018, 12:11: PM
answered-by-expert Expert Answer
begin mathsize 16px style Second space year equals 864 third space year equals 933.12 straight S. straight I. space on space rs space 864 space for space one space year equals 933.12 minus 864 equals 69.12 rate space of space interest equals fraction numerator 69.12 over denominator 864 end fraction cross times 100 equals 8 percent sign now space let space straight P space is space principle rate equals 8 percent sign interest space for space second space year equals 864 equals amount space after space 2 space year minus amount space after space 1 st space year 864 equals straight P open parentheses 1 plus 8 over 100 close parentheses squared minus straight P open parentheses 1 plus 8 over 100 close parentheses solve space to space get space straight P then space find space for space straight n equals 4 end style
Answered by Arun | 18 Feb, 2018, 12:43: PM

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