At what rate percent per annum will Rs.6000 amount to Rs.6615 in 2 years when interest is compounded annually.
Answers
Answered by
6
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%
Answered by
5
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%
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