Question

At what rate percent per annum rs 4000 amount to rs 4410 in 2 years compounded annually

Answer 1

5%

Step-by-step explanation:

Principal P = Rs.4000

Time(t) = 2 years

Amount A = Rs. 4410

Rate of interest = ?

No. of compound per year n = 1

Formula of Amount of compound interest :

where r is in decimals

Substitute the values

So, rate of interest = 0.05*100= 5%