Problema Solution
if rs 900 amounts to rs 1044 in 4 years , what sum will be amounted to rs 1368 in 3 and half years at the same rate?
Answer provided by our tutors
let
r = the rate as a decimal
P = rs 900
t = 4 years
A = rs 1044 the future value
A = P(1 + r*t)
900(1 + 4*r) = 1044
by solving we find:
r = 0.04 or 4%
click here to see the step by step solution of the equation:
we need to find P such that:
P(1 + 3.5*0.04) = 1368
by solving we find:
P = rs 1,200
click here to see the step by step solution of the equation:
the sum of rs 1,200 will be amounted to rs 1368 in 3 and half years.