Question

At what rate of interest per annum will 625/- will be 676/- into two years at C.I is?​

Answer 1

Answer:

R=4%

Step-by-step explanation:

Amount = P*(1+R/100)^T

Let the sum or principal P is RS.X

This principal is becoming amount of RS.650 in first year

650 = X*(1+R/100)^1

(1+R/100) = 650/X ……..eq (1)

In another one year the new sum or principal of Rs.650 is becoming the amount of Rs.676

676 = 650*(1+R/100)^1

(1+R/100) = 676/650

By putting this value of (1+R/100) in equation (1)

676/650 = 650/X

X = 650*650/676

X= 625 RS.

Putting this value of X in equation (1)

R/100 = 650/625 -1

R/100 = 25/625

R= 4%

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