Question

a sum of money 1200 lent out at c.i amount to rs 14257.2 in 2 year's.calculate the rate of interest
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Answer 1

Answer:

ANSWER

For ,

N=2years

P=Rs1,200

On interest being compounded for 2 years,

Amount=P(1+

100

R

)

N

1,452=1,200×(1+

100

R

)

2

1.21=(1+

100

R

)

2

Taking square root on both sides,

1.1=1+

100

R

=>R=10 %