Question

At what rate percent per annum compound Interest will Rs 6250 amount to Rs 7250 in 2 years?

Answer 1

Answer:

8

Step-by-step explanation:

i hope you can understand

Answer 2

Answer:

8%

Step-by-step explanation:

Applying compound interest formula,

A=P(1+r/100)t where,

A is the amount A=Rs.7250

P is the principal P=Rs.6250

r is the rate

t is the time t=2 year

Substitute the values,

7250 = 6250 ( 1 + r / 100) ^ 2

7250 / 6250 = ( 1 + r / 100) ^ 2

1.16 = ( 1 + r / 100) ^ 2

Taking root both side,

√1.16 =  ( 1 + r / 100) ^ 2

1.08 = ( 1 + r / 100) ^ 2

r / 100 = 1.08 - 1

r / 100 = 0.08

r = 0.08 * 100

r = 8

Therefore, the rate percent is 8%.

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