at what rate percent per annum will rs 2500 amount to rs 3025 in 2 years,interest compounded annually
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given:
p= ₹ 2500
a=₹3025
t=2years
to find : rate% p.a.
solution:
a= p(1+r/100)to the power t
3025=2500(1+r/100) to the power 2
3025/2500=(1+r/100) to the power 2
121/100= (1+r/100) to the power 2
(121 is the square of 11 & 100 is the square of 10 so the power of 2 on both sides will be cancelled)
11/10=1+r/100
11/10-1= r/100
1/10= r/100
r= 1×100/10
r=10%
p= ₹ 2500
a=₹3025
t=2years
to find : rate% p.a.
solution:
a= p(1+r/100)to the power t
3025=2500(1+r/100) to the power 2
3025/2500=(1+r/100) to the power 2
121/100= (1+r/100) to the power 2
(121 is the square of 11 & 100 is the square of 10 so the power of 2 on both sides will be cancelled)
11/10=1+r/100
11/10-1= r/100
1/10= r/100
r= 1×100/10
r=10%
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