Question

At what rate percent per annum compound interest will ₹2304 amount to ₹2500 in
2 years?​

Answer 1

✫$\LARGE{\sf{\underline{\underline{\ Solution}}}}$✫

★ Given

P = ₹2304

A = ₹2500

T = 2 years

★ To Find

Rate

As we know,

A = P(1+r/100)^n

⇒ 2500 = 2304 (1 + r/100)²

⇒ 2500/2304 = (100 + r / 100)²

⇒ 625/576 = (100 + r/100)²

⇒ (25/24)² = (100 + r/100)²

⇒ 25/24 = (100 +r)/100

⇒ 25/24 × 100 = 100 + r

⇒ 25/6 × 25 = 100 + r

⇒ 625/6 = 100 + r

⇒ 625-600/6 = r

⇒ 25/6 = r

⇒ 4.166 %

✫$\LARGE{\sf{\underline{\underline{\ Required \ Answer}}}}$✫

Rate = 4.17 % p.a (Approximately)

Answer 2

Hey Mate!❤

━━━━━━━━━

★Question

At what rate percent per annum compound interest will ₹ 2304 amount to ₹2500 in 2 years?

★Answer

Amount (A) = ₹2500

Principal (P) = ₹2304

Time (n) = 2 years

We know that ,

A = P (1 + r/100)ⁿ

We can also write it as ,

(1+r/100)ⁿ = A/P

Substituting the given values ,

(1+r/100)² = 2500/2304

Calculating the value ,

(1+r/100)² = 625/576 = (25/4 )²

Resulting value ,

(1+r/100) 25/24

r/100 = 25/24−1

Taking the LCM ,

r = 100/24

= 25 / 6

= ⑷⅙%

Hence, the required rate of interest is ⑷ ⅙% p.a

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