Question

At what rate percent will a sum of RS.1000 a
mount to Rs.1, 102.50 in 2 years
when the interest is compounded annually.

Answer 1

Answer:

THE RATE% IS 5%

Step-by-step explanation:

PARAMETERS GIVEN,

PRINCIPAL = ₹1000

TIME = 2 YEARS

AMOUNT = ₹1102.50

LET THE RATE% E x

SO,

WE KNOW,

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

1102.50=1000(1+x/100)²

1102.50=1000[(100+x)/100]²

1102.50*100*100=1000(100+x)(100+x)

(1102.50*100*100)/1000=(100+x)²

1102.50*10=(100+x)²

11025=(100+x)²

100+x=$\sqrt{11025}$

100+x=105

x=105-100

x=5%

I HOPE YOU UNDERSTOOD THE QUESTION