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:

4%

Step-by-step explanation:

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​

A=Rs.2163.20

P=Rs. 2000

n= 2 years

R=?

A=P(1+R)^n

2163.20=2000(1+R)^2

1.0816=(1+R)^2

Taking Square root

1.04=1+R

Thus R=.04

R=4%