Question

at what rate percent per annum will 6000 amount to 6615 in 2 years when interest is compounded annually (Using the formula of amount )

Answer 1

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%

Answer 2

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