A certain sum of money amounts to Rs. 1008 in 2 years and to Rs. 1164 in 3.5 years. Find the sum and the rate of interest.

Options
- 12%
- 14%
- 13%
- 15%

CORRECT ANSWER : 13%

Discussion Board
Solution

W.k.t total amount =SI +P SI =10000 *5 *6 /100 =500 *6 =3000 since u want for five years, v calculate as total amount =3000*5+10000*5vl gives u 65000rs at da end of 5yrs ??

Anilaraj kurakula 10-21-2019 12:57 AM

Business Finance

You deposit P 10 000 at the end of each year of the next five years in a bank account that pays 6% interest. How much will have in your account at the end of the five year period. Please help to solve

Ketsile Gladys Mmolotsi 08-12-2019 02:29 AM

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