Question

At what rate per cent per annum compound interest on ₹2000 will amount to ₹ 2508.80 in 2 years​

Answer 1

Answer:

The rate percent is 12.72% respectively.

Step-by-step explanation:

Given :

Principle - Rs. 2000

Amount - Rs. 2508.80

Time - 2 years

To find :

The rate percent

Solution :

We know that,

Interest = (Amount - Principle)

= Rs.(2508.80 - 2000)

= Rs. 508.80

Now,

We know that,

Rate = S.I×100/p×t

Putting the values

= 508.80×100/2000×2

=12.72℅

Hence, the rate percent is 12.72%

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