Question

at what rate of CI compounded annually will Rs 7500becomes Rs9075 in 2year

Answer 1

Answer:

Rate of Interest =10%

Step-by-step explanation:

Let the rate be R,

∴We know,

A=P(1+R/100)∧T

Rs 9075=Rs 7500(1+R/100)∧2

9075/7500=(1+R/100)∧2

121/100=(1+R/100)∧2

(11/10)∧2=(1+R/100)∧2

11/10=1+R/100             [∵The power get cancelled]

(11/10)-1=R/100

1/10=R/100

R=(1/10)*100

R=10%