Maths

Karim deposited 9000 rupees after2years he withdraw 4000rs.at the end of 5yearshe get8300 RSVP. Find the rate of interest.

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  1. Pls solve the question.

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  2. On my "time graph" I picked year 5 as the focal-date
    so 9000(1+i)^5 - 4000(1+i)^3 = 8300
    let 1+i = x and divide each term by 100
    90x^5 - 40x^3 = 83

    There is no simple way to solve this equation, and you will
    a method such as Newton's Method to solve it.
    I went to Wolfram and got x = 1.08242
    so i = .08242 or 8.242%
    www.wolframalpha.com/input/?i=solve+90x%5E5+-+40x%5E3+%3D+83

    check:
    amount after 2 years = 90000(1.08242)^2 = 105446.975
    withdraw 40000 leaves 65446.975
    amount of that after another 3 years = 64446.975(1.08242)^3 = 82999.79
    not bad eh?

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    posted by Reiny

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