Question
In 2013, the amount becomes Rs 28,700 after 8 years,
find the rate of interest.Solution
Interest after 1 year = Rs 1400, so after 8 years = 1400 × 8 = Rs 11200 So Principal + interest of 8 years = 28700 So Principal = 28700-8400 = Rs 17,500 Now 17500 × r × 1/100 = 1400 rate = 8%
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______________means such part of the capital which is for the time being subscribed by the members of a company
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