The sum of principal and simple interest of a certain amount of money would be TK. 460 after three years from now and TK. 500 after 5 years from now . What is the related interest rate ?
Created: 6 years ago |
Updated: 9 months ago
best des
Solution:
(5 – 3) yr = 2 yrs interest = (500 – 460) = 40 tk
1 year interest = 40/2 = 20 tk.
3 year interest = (20 × 3) = 60 tk
Principal amount= (460 – 60) = 400 tk
So, Interest rate = 60/(400×3) = 0.05 = 5%
Related Question
View More
Created: 6 years ago |
Updated: 1 month ago
Created: 6 years ago |
Updated: 1 month ago
Created: 6 years ago |
Updated: 1 month ago
Created: 6 years ago |
Updated: 7 months ago
Promotion
Download Our Mobile Apps
