Question

At what rate of compound interest will Rs.20,000 become Rs.24,200 after 2years..

Answer 1

Answer:

10%

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Step-by-step explanation:

P = Rs 20000, A =Rs 24200,

t = 2 years 20000 × (1 + R/100)2 = 24200

=> (1 + R/100)2 = 24200/20000 = 121/100 = (11/10) 2

=> 1 + R/100 = 11/10

=> R/100 = (11/10 – 1) = 1/10

=> R = (100 × 1/10) % p.a = 10 % p.a

Hence, Rate = 10 % p.a

Answer 2

Answer:

1110

Because the amount increased to 20,000 to 24,200 so the middle amount is 2220 if we divide it then we will get the answer 1110

Thank you