Question

At what rate of percent compounded yearly will rs 80000 amounts to rs 88200 in 2 yrs

Answer 1

Step-by-step explanation:

88200=80000(1+r/100)^2

88200/80000=(1+r/100)^2

(420/400)^2= (1+r/100)^2

420/400-1/1=(r/100)

20/400=r/100

r=50%p.a