Question

1. At what rate per cent will a sum of rupees 4000 yield compound interest of rupees 410 in 2 years .
2. In how many years will rupees 1600 amount to rupees 1852.20 at 5% per annum when compounded annually ?​

Answer 1

Answer:

At what rate will a sum of Rs. 4000 yield a compound interest of Rs. 410 in 2 years?

Hard

Answer

Principal =4000

Compound interest for two years =Rs410

∴ Amount at the end of 2 years =A=Rs(4000+410)

=Rs.4410

⇒ Time 2 years

Let the rate of interest be r% p.a.

we have,

∴r=5%p.a.

Hence, the answer is 5%.