Question

At what rate of interest will be rs 20000 becomes rs 24200 after 2 years when interest is compounded annually?

Answer 1

Answer:

At what rate of interest will Rs. 20000 become Rs. 24200 after 2 years when interest is compounded annually ? R = 100 x 1/10 = 10 % p.a.

Step-by-step explanation:

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Answer 2

Answer:

11%

Step-by-step explanation:

applying the formula for compound interest

A =P $(1+r/100)^2$

24,200=20,000  (1+R/100)^2

$\frac{24200}{20,000}$ =(1+r/100)^2

$\frac{121}{100}$=(1+r/100)^2

$11^{2}/ 10^{2}$=(1+r/100)^2

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HENCE THE ANSWER IS  11%