Question

at what rate percent per annum will 5000 amount to 5832 in 2 years compound annually​

Answer 1

Answer:

A =p (I +r/100)n

5832 = 5000 (I +r/100) 2

(I+r/100) 2 =5832/5000

(1 +r/100) 2 = 1.1664

1+r/100=v1.1664 = 1.08

r/100=1.08 -1=0.08

r = 0.08x100 = 8%