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Math Help - Application of Ap/GP 2

  1. #1
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    Application of Ap/GP 2

    i invest RM 500 at a fixed amount rate interest of 5%. At the and of the first year i shall have RM 525 in my account. I live the money in the account for 6 years.
    (a) after how many years will my account first have more than RM 600?
    (ans:4)

    (b) How much money shall i have in the account at the end of the sixth year?
    (ans: rm 670.04)

    tq for your time
    nik
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  2. #2
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    Quote Originally Posted by nikk View Post
    i invest RM 500 at a fixed amount rate interest of 5%. At the and of the first year i shall have RM 525 in my account. I live the money in the account for 6 years.
    (a) after how many years will my account first have more than RM 600?
    (ans:4)
    ur answer is correct
    I=Interest
    P=Principal Amount
    R=RAte
    T=Time

    T=\frac{I}{PR}

    T=\frac{100}{500*.05}

     T=\frac{100}{25}

    T=4 years

    (b) How much money shall i have in the account at the end of the sixth year?

    (ans: rm 670.04)
    I=PRT

    I = 500*.05 * 6

    I = 150

    then add the principal and interest
    500+150 = RM 650 after 6 years

    i have a different answer for no. 2
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  3. #3
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    Quote Originally Posted by princess_21 View Post
    ur answer is correct
    I=Interest
    P=Principal Amount
    R=RAte
    T=Time

    T=\frac{I}{PR}

    T=\frac{100}{500*.05}

     T=\frac{100}{25}

    T=4 years



    I=PRT

    I = 500*.05 * 6

    I = 150

    then add the principal and interest
    500+150 = RM 650 after 6 years

    i have a different answer for no. 2

    tq for your help ...

    do u know how to use progression (AP or GP) to solve both of the question??
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  4. #4
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    Quote Originally Posted by nikk View Post
    do u know how to use progression (AP or GP) to solve both of the question??
    The interest is charged for 4 years
    Each year the interest remains same

    P*R hence it becomes the common difference

    and the Principal(P) is the first term of AP

    Hence you needed to find the 5th term (ie; end of 4th year) using
    T_n=a+(n-1)d

    where d is common difference , a is the first term and n is the term number
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