Question

10. At what rate per cent will a sum of 640 be compounded to 774.40 in two
years? ​

Answer 1

Answer:

Amount = P(1+(r/100))^t

774.40=640(1+r/100)^2

(1+(r/100))^2=774.40÷640=1.21

1+r/100=1.1

r/100=1.1-1=0.1

r=0.1×100=10

Ans 10%