Question

A sum of Rs 400 amounts to Rs 441 in two years compounded annually, then the rate of interest is
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Answer 1

Answer:

the sum of rupees 400 amounts of the rupees 441 in 2 years is 441 into 400 176400

Answer 2

A= P(1+r/100)^t where t is the time period in years r is the rate, P is the principal and A is the amount so

441=400(1+r/100)^2

441/400=(1+r/100)^2

(21/20)^2=(1+r/100)^2

21/20–1=r/100

1/20=r/100 so

R=5%