Mr Tiwari obtaind
a loan
of
£ 50, ooo from union Bank
of India After 3 years be paid
Rs
86, 400
. Find the rate
of
Interest,
if the interest
is compounded annually
a loan
of
£ 50, ooo from union Bank
of India After 3 years be paid
Rs
86, 400
. Find the rate
of
Interest,
if the interest
is compounded annually
Add an Answer
More Questions From This User See All
Answers & Comments
where,
Let, Rate of interest be R,
Given :-
According to the question by using the formula of Amount, we get,
Answer:
Let, Rate of interest be R,
Given :-
Principal (Sum of money) = £50,000
Time = 3 years
Amount = £86,400
According to the question by using the formula of Amount, we get,
\mapsto {\mathsf{Lb. \ 50,000 \ \bigg ( 1 + \dfrac{R}{100} \bigg ) ^3 = Lb. \ 86,400}}↦Lb. 50,000 (1+
100
R
)
3
=Lb. 86,400
\mapsto {\mathsf{Lb. \ 50,000 \ \bigg ( \dfrac{100 + R}{100} \bigg ) ^3 = Lb. \ 86,400}}↦Lb. 50,000 (
100
100+R
)
3
=Lb. 86,400
\mapsto {\mathsf{Lb. 50,000 \ \times \dfrac{(100 + R)^3}{10,00,000} = Lb. \ 86,400}}↦Lb.50,000 ×
10,00,000
(100+R)
3
=Lb. 86,400
\mapsto {\mathsf{Lb. \ 0.05 \ \times (100 + R)^3 = Lb. \ 86,400}}↦Lb. 0.05 ×(100+R)
3
=Lb. 86,400
\mapsto {\mathsf{(100 + R)^3 = \dfrac{Lb. \ 86,400}{Lb. \ 0.05 }}}↦(100+R)
3
=
Lb. 0.05
Lb. 86,400
\mapsto {\mathsf{(100 + R)^3 = Lb. \ 17,28,000}}↦(100+R)
3
=Lb. 17,28,000
\mapsto {\mathsf{(100 + R)^3 = (Lb. \ 120)^3}}↦(100+R)
3
=(Lb. 120)
3
\mapsto {\mathsf{(R)^3 = (Lb. \ 120 - 100)^3}}↦(R)
3
=(Lb. 120−100)
3
\mapsto {\mathsf{(R)^3 = (Lb. \ 20)^3}}↦(R)
3
=(Lb. 20)
3
\Longrightarrow {\mathsf{R = 20\%}}⟹R=20%
{\orange{\bigstar}} \ \therefore {\boxed{\underline{\mathsf{\green{Rate \% \ of \ Interest}{\pink{ \ is \ }{\blue{\bf{20\% \ p.a.}}}}}}}} \ {\orange{\bigstar}}★ ∴
Rate% of Interest is 20% p.a.
★
{\huge{\green{\checkmark}}}✓ {\large{\boxed{\underline{\mathrm{\bf{\orange{Verification:-}}}}}}}
Verification:−
{\huge{\green{\checkmark}}}✓
\mapsto {\mathsf{Lb. \ 50,000 \ \bigg ( 1 + \dfrac{20}{100} \bigg ) ^3 = Lb. \ 86,400}}↦Lb. 50,000 (1+
100
20
)
3
=Lb. 86,400
\mapsto {\mathsf{Lb. \ 50,000 \bigg ( \dfrac{100 + 20}{100} \bigg ) ^3 = Lb. \ 86,400}}↦Lb. 50,000(
100
100+20
)
3
=Lb. 86,400
\mapsto {\mathsf{Lb. \ 50,000 \ \bigg ( \dfrac{120}{100} \bigg ) ^3 = Lb. \ 86,400}}↦Lb. 50,000 (
100
120
)
3
=Lb. 86,400
\mapsto {\mathsf{Lb. 50,000 \bigg ( \dfrac{6}{5} \times \dfrac{6}{5} \times \dfrac{6}{5} \bigg ) ^3 = Lb. 86,400}}↦Lb.50,000(
5
6
×
5
6
×
5
6
)
3
=Lb.86,400
\mapsto {\mathsf{Lb. \ \bigg ( 50,000 \times \dfrac{216}{125} \bigg ) = Lb. \ 86,400}}↦Lb. (50,000×
125
216
)=Lb. 86,400
\mapsto {\mathsf{Lb. \ (4,000 \times 216) = Lb. \ 86,400}}↦Lb. (4,000×216)=Lb. 86,400
\mapsto {\mathsf{Lb. \ 86,400 = Lb. \ 86,400}}↦Lb. 86,400=Lb. 86,400
\Longrightarrow {\mathsf{\bf{LHS = RHS}}} \Longleftarrow⟹LHS=RHS⟸
{\mathsf{Hence, Verified \ {\large{\checkmark}} }}Hence,Verified ✓