Question

At what Rate of interest compounded annually, will Rs. 4000 earn Rs.410 compound interest in 2 years?​

Answer 1

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Answer 2

Answer:

5%

Step-by-step explanation:

Principal =4000

Compound interest for two years =Rs410

∴ Amount at the end of 2 years =A=Rs(4000+410)

=Rs.4410

⇒ Time 2 years

Let the rate of interest be r% p.a.

we have,

⇒r = 5%