Question

a sum of money becomes rs. 17640 in 2 years from rs 16000, if compounded annually. find the rate of interest

Answer 1

Hi,

Based on your data, interest rate is 5% .

Please find more details

Tried For: Rate of Return

Input:

Deposit Amount = 16000

Future Amount = 17640

Interest Frequency = Yearly

Tenure (In Months) = 24

Results:

Interest Earned = 5.00%

Answer 2

hey mate

here is your answer :-