Question

at what rate of compound interest compounded annually, will Rs. 7500 becomes Rs. 9075 in 2 years​

Answer 1

Answer:

Question :-

At what rate of compound interest compounded annually, will Rs. 7500 becomes Rs. 9075 in 2 years?

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$\huge \tt{\underline{Solution}}$

P = 7500

After 2 years :-

P = 9075

Now, P' = P(1 + $\frac{n}{100})^2$

Where 'r' is rate of interest

$=\frac{9075}{7500} = ( 1 \frac{r}{100})^2$

$=\sqrt{\frac{121}{100}} = 1 + \frac{r}{100}$

$= \frac{11}{10} = 1 + \frac{r}{100}$

$= \frac{110}{\cancel{100}} = \frac{200 + r}{\cancel{100}}$

=> 100 - 100 = r

=> r = 10%

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