Question

At what rate per cent per annum will $4000 yield an interest of $410 in 2 years?

Answer 1

p=  $4000 , t = 2 , i = 410
   (p× t×r)/100 = 410
⇒(4000×2×r) /100   = 410
⇒80 r    = 410
 ⇒ r =5 (nearly 5.2)
rate =5%

Answer 2

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