Question

A man borrowed ₹3,125 on compound interest and principal and interest amounted to ₹4,500 in two years. The rate of compound interest per annum is?​

Answer 1

$\huge\mathfrak\green{answer \: \: \: \: \: \: ✎}$

$given \: amount \: = Rs. \: 4500 \\ N = 2 \: years \\ principle \: = Rs. \: 3125$

$we \: have \: A \: = p \: (1 + { \frac{R}{100} })^{n}$

$⇒4500 = 3125( + 1 { \frac{R}{100} })^{2}$

$⇒(1 + { \frac{R}{100} )}^{2} = \frac{4500}{3125} = \frac{144}{100}$

$⇒1 + \frac{R}{100} = \frac{12}{10}$

$⇒R = 20\%$

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