Question

At what rate per cent per annum will Rs 1,200 amount to Rs 1,323 in 2 years when the interest is compounded annually​

Answer 1

Answer:

hope u will understand☆☆☆

Step-by-step explanation:

Let r% be rate per annum, then,

1323=1200(1+

100

r

)

2

⟹

1200

1323

=(1+

100

r

)

2

⟹

1200

1323

=(1+

100

r

)

⟹1.05=(1+

100

r

)

⟹

100

r

=1.05−1=0.05

⟹r=100×0.05=5%