Question

At what rate per annum will rs2000 amount to rs2400 in 2yrs?

PLS ANS ASAP

Answer 1

10% interest each year.

Step-by-step explanation:

As 2000×10%=200

Then 2000 ×10%+=2200

We have to find it for 2 years :

1 year interest is 200 then for 2 years it will be 400.

Hence 2000×10%×2÷100= 2400

So your answer will be 20% (both year 10% 10%.)