Question

6. A sum of money becomes 2.25 times in 2 years at a certain rate of compound interest per annum.
Find the rate of interest.​

Answer 1

Answer:

let initial money is 4 unit and after 2 years it becomes 4*2.25 = 9 unit

so amount in 1 year = √(9/4) = 3/2

so it means 2 unit money becomes 3 unit

so interest will be 1 unit

rate = 1/2 *100%

rate = 50%