Question

At what rate percent will a sum of rs 3125 amount to Rs 3645 in 2years, if the interest is compound annually?

Answer 1

$<b>Heya Mate$

$\underline\bold{Step-by-step \: explanation}$

Rate= SI×100/P×T
= 3645-3125= 520
Simple interest = Rs . 520
520×100/3125×2
After cancellation...
8.32%p.a

$\boxed{8.32 \: percent \: p.a}$

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