Question

At what rate percent per annum compound interest will Rs. 3,125 amount to Rs. 3,380 in 2 years ?​

Answer 1

Answer:

Principal = Rs.3125

Amount =Rs.3645

Time = 2 years

\begin{gathered}A=P(1+r)^t\\3645=3125(1+r)^2\\\frac{3645}{3125}=(1+r)^2\\\sqrt{\frac{3645}{3125}}=1+r\\\sqrt{\frac{3645}{3125}}-1=r\\0.08=r\end{gathered}

A=P(1+r)

t

3645=3125(1+r)

2

3125

3645

=(1+r)

2

3125

3645

=1+r

3125

3645

−1=r

0.08=r

Rate of interest = 8%

Hence the rate of interest is 8%

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Answer 2

Answer:

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