Question

Assam of rupees 2,000 amount to rupees 216 3.20 in 2 years find the rate of interest if the interest is compounded annually​

Answer 1

Answer:

Step-by-step explanation:

P = 2000     A=2163.20       TIME= 2yrs

=> CI= 163 for 2 yrs

if it was a SI for 2 years answer would be = 160(80+80) which means ROI is

4% pa.

here we see an addition of 3.20 which is Interest on interest

Hence CI is 4%

In short CI=  80

                 + 80+3.20(which is 4% of rs 80 interest)

      total     =163.20