A sum of rs 200 lent out at compound interest compounded annually amount to rs 220.50 in2y. what is the rate of interest....
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Heya !!
Here's your answer !!!
Use the formula for compound interest.
P = ₨200. A= Rs 220.50. n= 2years
r= ??
A = p (1+r/100)²
220.50 = 200×(1+r/100)²
1+r/100 = √1.1025 = 1.05125 approximately.
r = 5.125% approx.
GLAD HELP YOU.
It helps you,
thanks ☻
@vaibhav246
Here's your answer !!!
Use the formula for compound interest.
P = ₨200. A= Rs 220.50. n= 2years
r= ??
A = p (1+r/100)²
220.50 = 200×(1+r/100)²
1+r/100 = √1.1025 = 1.05125 approximately.
r = 5.125% approx.
GLAD HELP YOU.
It helps you,
thanks ☻
@vaibhav246
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