Question

2000 amounts to 2205 in 2 years at compound interest. The rate of interest (per annum), compounded annually, is​

Answer 1

Answer:

5%

Step-by-step explanation:

Given Rate of interest is r

Principal Amount is A = 2,000

Time is t = 2 years

Interest is compounded yearly once ⟹ n = 1

Amount =P (1 + r / n ) ^  nt  = 2000 × (1 + r)^2  = 2205 ⟹ r = 0.05 = 5%

Answer 2

Step-by-step explanation:

see the explanation ,hope this will help you.