At what percent rate compound interest will be Rs 700 amount to Rs 847 in 2 years
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Answer:
rate of interest= 10%
Step-by-step explanation:
CI= ₹ 847 - 700 = ₹147
p(1+r/100)^n = amount
=> 700(1+r/100)^2 = 847
=> (1+r/100)^2 = 847/700
=> 1+r/100 = √(121/100)
=> r/100 = 11/10 - 1
=> r= 1/10×100
=> r = 10
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