at what rate per cent will a sum of rupees 640 be compounded to rupees 774.40 in 2 years
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Principle=640
Amount=774.40
Time=2yrs
Rate=?
Amount=p(1+r/100)^n
=774.40=640(1+r/100)^2
774.40÷640=(1+r/100)^2
(11/10)^2=(1+r/100)^2
(Both powers are cut)
11/10=1+r/100
11/10-1/1=r/100
1/10=r/100
R=100/10
R=10%. Answer
Therefore rate %=10%.
Amount=774.40
Time=2yrs
Rate=?
Amount=p(1+r/100)^n
=774.40=640(1+r/100)^2
774.40÷640=(1+r/100)^2
(11/10)^2=(1+r/100)^2
(Both powers are cut)
11/10=1+r/100
11/10-1/1=r/100
1/10=r/100
R=100/10
R=10%. Answer
Therefore rate %=10%.
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