At what rate percent per annum will 4000 yeild an interest of 410 in 2 years
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Step-by-step explanation:
Principal =4000
Compound interest for two years =Rs410
∴ Amount at the end of 2 years =A=Rs(4000+410)
=Rs.4410
⇒ Time 2 years
Let the rate of interest be r% p.a.
we have,
⇒A=P(1+
100
r
)
2
⇒4410=4000(1+
100
r
)
2
⇒
400
441
=(1+
100
r
)
2
⇒
20×20
21×21
=(1+
100
r
)
2
⇒
20×20
21×21
=
100
r
+1
⇒
20
21
−1=
100
r
⇒
20
1
×100=r
∴r=5%p.a.
Hence, the answer is 5%.
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