Question

a person invest thousand rupees for 2 years at a certain rate of interest compounded annually at the end of the one year this sum amounts to 11200. Calculate the rate of intrest per annum. plzz explain​

Answer 1

P=10000

A=11200.....first year

11200=10000(1+r/100)

r=12

put n=2 for 2nd year

P=10000, r=12.......

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