Question

At the rate of interest compound interest per annual will RS.650 amounts of RS. 7774.40 is 2years

Answer 1

Answer:

245 %

Step-by-step explanation:

Principal ( P ) = Rs. 640

Amount ( A ) = Rs. 7774.4

Time ( T ) = 2 years

Rate of interest ( R ) = ?

We know that

A = P( 1 + R/100 )^T

⇒ 7774.4 = 650( 1 + R/100 )²

⇒ 7774.4 / 650 = ( 1 + R/100 )²

⇒ 11.96 = ( 1 + R / 100 )²

⇒ 3.45 = 1 + R / 100

⇒ 3.45 - 1 = R / 100

⇒ 2.45 = R / 100

⇒ 245 = R ( approx )

Note : The answer may differ if u take for 3 decimals or decimals here 7774.4 / 650 so if ur answer don't match my answer that doesn't mean my answer is wrong its just an approximate value.

Therefore the rate of interest is 245%.