Question

At what rate percent will a sum of ₹ 8,400 yield ₹ 861 as compound interest in 2 years?

Answer 1

➳ Given :-

• Principal = ₹ 8,400 .
• lnterest = ₹ 861 .
• Time = 2 years .

⠀⠀⠀⠀⠀⠀⠀

➳ To Find :-

• Rate of Interest = ?

⠀⠀⠀⠀⠀⠀⠀

➳ Solution :-

⠀⠀⠀⠀⠀⠀⠀

∓ First, we will calculate the Amount, and then Rate of Interest .

⠀⠀⠀⠀⠀⠀⠀

• Now, let's calculate Amount -----

⠀⠀⠀⠀⠀⠀⠀

⠀⠀$\maltese \: \sf \red{Amount = Principal + Interest} \\ \\ : \dashrightarrow \: \sf{A =8400 + 861 } \\ \\ : \dashrightarrow \: \sf \pink{A= 9261}$

⠀⠀⠀⠀⠀⠀⠀

• Now, we will calculate the Rate of Interest -----

⠀⠀⠀⠀⠀⠀⠀

$\maltese \: \sf \red{Amount = Principal \: ( \: Interest × Rate \: ) {}^{n} } \\ \\ : \dashrightarrow \: \sf{9261 = 8400 \: ( \:1 \times \: R \: ) {}^{2} } \\ \\ : \dashrightarrow \: \sf{ \frac{9261}{8400} = \: ( \: 1\times R \: ) {}^{2} } \\ \\ : \dashrightarrow \: \sf{1.1025 = ( \: 1 \times \: R \: ) {}^{2} } \\ \\: \dashrightarrow \: \sf{ \sqrt{1.1025 } = ( \: 1 \times \: R \: ) } \\ \\ : \dashrightarrow \: \sf{1.05 = 1\times R} \\ \\ :\dashrightarrow \: \sf{R = 1.05 - 1} \\ \\ : \dashrightarrow \: \sf \pink{R = 0.05}$

⠀⠀⠀⠀⠀⠀⠀

➳ Hence :-

• Rate of Interest = 0.05 × 100 = 5 %

_____________________

$\large\sf\colorbox{pink}{Hope lt'z Help You\:\:!! }$