Question

at what rate percent per annum will 4000 rupees amount to rupees 4410 in 2 years when compounded annually ​

Answer 1

Let rate%=r

So 4410 = 4000(1 + r/100)^2

=> (1 + r/100)^2 = 4410/4000 = (21/20)^2

=> (1 + r/100) = 21/20

=> r/100 = 1/20

=> r = 100/20 = 5

So at 5% per annum Rs 4000 will amount to RS 4410 in 2 years when compounded annually