a person deposited rs. 100 in a bank and gets amount of rs.121 after 2 years. find the rate of compound interest per annum
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Answered by
33
we know formula
A=p (1+r/100)^n
121=100(1+r/100)^2
1.21=(1+r/100)^2
( 1.1)^2=(1+r/100)^2
take square root in both side
1.1=1+r/100
r=10%
rate is 10%
A=p (1+r/100)^n
121=100(1+r/100)^2
1.21=(1+r/100)^2
( 1.1)^2=(1+r/100)^2
take square root in both side
1.1=1+r/100
r=10%
rate is 10%
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Answered by
2
Step-by-step explanation:
we know,a=p(1+r/100)^n
=>121=100(1+r/100)^2
=>121/100=(1+r/100)^2
=>1.21=(1+r/100)^2
=>(1.1)^2=(1+r/100)^2
taking off square of both sides
therefore,r=10%
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