Question

At what rate percent compound interest will a sum of ₹62500 earn an intrest of ₹5100 in 2 years ?

Please give step by step explaination!!
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Answer 1

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5,100 = 62,500[(1+r/2×100)²-1]

51/625 + 1 = [1+r/200]²

676/625 = [1+r/100]²

26/25 = 1+r/200

1/25 = r/200

200/25 = r

r = 8%.