Question

At what rate per cent annum will Rs 640 amount to Rs 774.40 in 2 years when compound annually pls quick​

Answer 1

Answer:

10% per annum

Step-by-step explanation: Principal=640

                                           Rate r % per annum

                         Time = 2 yrs

Amount=774.40 = 77440/100

We know,

A=P( 1 + r/100)^n

Putting all the values,

77440/100=640(1 +r/100)²

=77440/64000=(1 + r/100)²

=9680/8000=(1 + r/100)²

=968/800=(1 + r/100)²

= 484/400=(1 +r/100)²

= (22/20)²=( 1 + r/100)²

= 22/20= 1 + r/100

= 22/20-1= r/100

=2/20=r/100

= 1/10=r/100

= r=10

Rate =10% per annum

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