Question

at the rate of compound interest where rupees 30,000 become rupees 36300 in 2 years

Answer 1

Step-by-step explanation:

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Answer 2

Solution:

Given:

Principal = ₹30,000

Amount = ₹36,300

Time = 2 years

We have to find:

Rate

Formula:

Amount $=Principal(1+{\frac{Rate}{100}})^n$

⟹36,300$=30,000(1+{\frac{Rate}{100)}}²$

⟹ $={\frac{36,300}{30,000}}$$=(1+{\frac{Rate}{100}})²$

⟹ ${\frac{121}{100}}$$=(1+{\frac{Rate}{100}})²$

$⟹{\frac{(11)}{(10)}}²$=$(1+{\frac{Rate}{100}})²$

Now,

$⟹{\frac{11}{10}}$$=(1+{\frac{Rate}{100}})$

$⟹{\frac{11}{10}}$$-1$=${\frac{Rate}{100}}$

$⟹{\frac{11-10}{10}}$$={\frac{Rate}{100}}$

$⟹{\frac{1}{10}}$$={\frac{Rate}{100}}$$</p><p>⟹Rate={\frac{100}{10}}$

⟹ Rate = 10 % p.a.