(i) At what rate per cent per annum will Rs. 630 produce an interest of Rs.126 in 4 years? (ii) At … year will a sum double itself in…
Answers:
(i) P = Rs. 630,
I = Rs. 126
T = 4 Years
R = (100 × I)/(P × T) = (100 × 126)/(630 × 4) = 100/20 = 5%
(ii) Let P = Rs. 100
∴ Amount = 2 × Rs. 100 = Rs. 200
Interest = A – P
= Rs. 200 – Rs. 100 = Rs. 100
T = 6. ¼ years = 25/4 years
R = (100 × I)/(P × T) = ((100 × 100)/100 × 25/4)% = ((100 × 100)/100 ) × (4/25) = 16%