Question

At what rate per annum compound interest will 2304 amount to 2500 in 2 years

Answer 1

let r be the rate percent per annum.

2500 = 2304 ( 1 + r/100 )^2

( 1 +r/100 )^2 = 2500/2304 = (50/48)^2

1 + r/100 = 50/48 = 25/24

r/100 = 25/24 -1 = 1/24

r = 100/24 = 25/6 = (4) 1/6 %


hope its helpful for you :)

Answer 2

Answer:

Refer to the attachment below