Question

At what rate percent per annum will Rs.6000 amount to Rs.6615 in 2 years when interest is compounded annually.​

Answer 1

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GIVEN :-

Amount = ₹6,615.

Principal = ₹6,000

Time = 2 Years.

TO FIND :-

Rate

SOLUTION :-

We have,

A=Rs.6615,P=Rs.6000,T=2 years

We know that,

A = P(1+R/100)^T

6615 = 6000(1+R/100)²

(1+R/100)² = 1.1025

1+R/100 = 1.05

R/100 = 0.05

R = 5%

Answer 2

Answer:

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ANSWER..

GIVEN :-

Amount = ₹6,615.

Principal = ₹6,000

Time = 2 Years.

TO FIND :-

Rate

SOLUTION :-

We have,

A=Rs.6615,P=Rs.6000,T=2 years

We know that,

A = P(1+R/100)^T

6615 = 6000(1+R/100)²

(1+R/100)² = 1.1025

1+R/100 = 1.05

R/100 = 0.05

R = 5%