Question

At what percent per annum will rs 4800 yield an interest of rs747 in 2 years compounded annually

Answer 1

Answer:

7.5%

Step-by-step explanation:

Principal = Rs.4800

Interest = Rs.747

Amount = Principal + Interest = Rs.4800+Rs.747=Rs.5547

Time = 2 years

No. of compounds per year = 1

Let rate of interest be r%

A=P(1+\frac{r}{100})^tA=P(1+

100

r

)

t

5547=4800(1+\frac{r}{100})^25547=4800(1+

100

r

)

2

5547=4800(1+\frac{r}{100})^25547=4800(1+

100

r

)

2

r=7.5%

Hence the rate of interest is 7.5%

Step-by-step explanation:

HOPE IT HELPS