Question

9. Rs 1000 deposited today shall accumulate to Rs 2900 after 20
years. What is the annual interest rate earned?
If nominal interest rate is 1207
10​

Answer 1

96.6666.....

Step-by-step explanation:

(1000+x+20)÷100=2900

10+x+20=2900

x+30=2900

x=2900÷30

x=96.6666...

Answer 2

Answer:

Step-by-step explanation:

5.46%