Question

At what percent rate compound interest will be Rs 700 amount to Rs 847 in 2 years

Answer 1

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