Question

applying formula of compound interest, at what rate of interest per annum will RS 60000 amount RS 69984 in two years​

Answer 1

Step-by-step explanation:

69984=60000(1+r/100)^2

69984/60000= (100+r/100)^2

729/625= (100+r/100)^2

(27/25)^2= (100+r/100)^2

27/25 * 100= 100+r

27*4= 100+r

108= 100+r

108-100= r

8%= r