We appreciate your visit to On a certain sum the compound interest obtained after 8 years is Rs 5000 at a 20 rate of compound interest Find the compound interest. This page offers clear insights and highlights the essential aspects of the topic. Our goal is to provide a helpful and engaging learning experience. Explore the content and find the answers you need!
Answer :
Final answer:
To find the compound interest obtained after 12 years, we can use the formula: Amount = Principal*(1+rate/100)^time. Using given information, we can calculate the compound interest after 12 years as Rs. 8549.33, which is closest to Rs. 9000.
Explanation:
To find the compound interest obtained after 12 years, we can use the formula:
Amount = Principal*(1+rate/100)time
Given that the compound interest obtained after 8 years is Rs. 5000, we can set up the equation as:
Principal*(1+20/100)8 = Principal + 5000
Solving for Principal gives us:
Principal = 5000 / ((1+20/100)8 - 1)
Using this Principal value, we can calculate the compound interest after 12 years:
Compound Interest = Principal*(1+20/100)12 - Principal
Substituting the values and simplifying, we get the compound interest after 12 years as Rs. 8549.33, which is nearest to Rs. 9000.
Thanks for taking the time to read On a certain sum the compound interest obtained after 8 years is Rs 5000 at a 20 rate of compound interest Find the compound interest. We hope the insights shared have been valuable and enhanced your understanding of the topic. Don�t hesitate to browse our website for more informative and engaging content!
- Why do Businesses Exist Why does Starbucks Exist What Service does Starbucks Provide Really what is their product.
- The pattern of numbers below is an arithmetic sequence tex 14 24 34 44 54 ldots tex Which statement describes the recursive function used to..
- Morgan felt the need to streamline Edison Electric What changes did Morgan make.
Rewritten by : Barada
