at what rate percent per annum will 6000 amount to 6615 in 2 years when interest is compounded annually (Using the formula of amount )
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Answered by
46
A = P[1+R/100]^t
⇒6615 = 6000 [1 +R/100]^2
⇒[1 +R/100]^2 = 6615/6000
= 1102.5/1000
= (105/100)^2
equating both sides,
[1+R/100 ] = 105/100 = 1+ 5/100
⇒R = 5%
⇒6615 = 6000 [1 +R/100]^2
⇒[1 +R/100]^2 = 6615/6000
= 1102.5/1000
= (105/100)^2
equating both sides,
[1+R/100 ] = 105/100 = 1+ 5/100
⇒R = 5%
Answered by
0
Answer:
given : A =6615
P =6000
T = 2 YEARS
Step-by-step explanation:
6615 = 6000 (1+R/100)²
6615 /6000 = ( 1+R/100)²
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