Question

At what rate of CI per annum will a sum of Rs. 2500 become 2700 in 2 years

Answer 1

Answer:

Priciple=2500

Amount = 2700

Time = 2 years

Rate=?

Amount

Answer 2

Answer:

r = 3.923

Step-by-step explanation:

Given

Amount = 2,700

Principle = p = 2,500

Time = t = 2 yrs

Rate of interest = r = 'r'

Let the rate be 'r'

$Amt = p(1+i)^n$

$Amt = 2,500(1 + r)^2$

$2,700 = 2,500(1 + r)^2$

$\frac{2,700}{2,500} = (1+r)^2$

$1.08 = (1+r)^2$

$\sqrt{1.08} = 1+r$

$1.039230 = 1+r$

$r = 0.039230$

$r = 0.039230 * 100$

$r = 3.923$