Question

A sum of 20000 from a bank at 9% p.a. compound interest in 2 years.find the rate of interest.

Answer 1

Answer:

23762

Step-by-step explanation:

principal for 1st year = 20000

rate = 9

amount = 20000(20000×9÷100)

principal for the second year = 21800

amount = 21800(21800×9÷100)

answer = 23762