at what rate percent per annumcompound interest will Rs2304 amount Rs2500 in two years
Answers
Answer:
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Step-by-step explanation:
It is given that
Amount = 2500
Principal = 2304
period (n) = 2 years
Consider r% p.a. as the rate of interest
We know that
A = P(1+r/100)
n
It can be written as
(1+r/100)
n
=A/P
Substituting the values
(1+r/100)
2
=2500/2304
By further calculation
(1+r/100)
2
=625/576=(25/24)
2
So we get
1+r/100=25/24
r/100=25/24−1
Taking LCM
r=100/24=
6
25
=4
6
1
Hence, the rate of interest is 4
6
1
% p.a.
Answer:
It is given that
Amount = 2500
Principal = 2304
period (n) = 2 years
Consider r% p.a. as the rate of interest
We know that
A = P(1+r/100)
n
It can be written as
(1+r/100)
n
=A/P
Substituting the values
(1+r/100)
2
=2500/2304
By further calculation
(1+r/100)
2
=625/576=(25/24)
2
So we get
1+r/100=25/24
r/100=25/24−1
Taking LCM
r=100/24=
6
25
=4
6
1
Hence, the rate of interest is 4
6
1
% p.a
Step-by-step explanation:
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