Question

5. A certain sum of money becomes 2.25 times of itself in 2 years. Then find the rate of interest if
compounded annually.​

Answer 1

Step-by-step explanation:

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Answer 2

Let p be principal

therefore,

2.25p=p(1+r/100)²

225p/100 = p((100+r)/100)²

we cancel p,

225/100=((100+r)/100)²

√(225/100)=(100+r)/100

15/10=(100+r)/100

(15*100)/10=r+100

150=r+100

r=150-100

r=50% p..a.

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