At what rate per annum will a sum RS 6250 becapound to RS 7846 in 2 years
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principal = RS 6250
amount = RS 7846
rate = R
Amount = principal × {1 + R ÷ 100} ^ 2
7846 = 6250 × (1 + R ÷ 100)^2
7846 = 6250 + 6250R ÷ 100
( 1 + 6250R ÷ 100)^ 2 = 7846 - 6250
(1 + 6250R ÷ 100)^2 = 1596
1+ R ÷100 = √1596
100 + 6250R ÷ 100= 39.95
100 + 6250R = 3995
R = 3895÷ 6250
R = 0.62%
amount = RS 7846
rate = R
Amount = principal × {1 + R ÷ 100} ^ 2
7846 = 6250 × (1 + R ÷ 100)^2
7846 = 6250 + 6250R ÷ 100
( 1 + 6250R ÷ 100)^ 2 = 7846 - 6250
(1 + 6250R ÷ 100)^2 = 1596
1+ R ÷100 = √1596
100 + 6250R ÷ 100= 39.95
100 + 6250R = 3995
R = 3895÷ 6250
R = 0.62%
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