Question

At what rate per cent per annum will * 6,000
amount to 6,615 in 2 years when interest
is compounded annually ?​

Answer 1

Answer:

5%

Step-by-step explanation:

Prinicpal = 6000

total amount = 6615

=> time = 2 years

rate = ?

=> as we know that

=> 6615 = 6000× 100+x/100×100+x/100

=> X = 5%