Question

At what rate percent per annum, compound interest will ₹80,000 amount to ₹88,200 in 2 years.​

Answer 1

Answer:

5.125 %

Step-by-step explanation:

Interest amount =

$88200 - 80000 = 8200$

insterest amount in one year

$8200 \div 2 = 4100$

then

$80000 \times x \div 100 = 4100$

$80000 \times x = 410000$

$x = 410000 \div 80000 = 5.125$

5.125 %

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