at what rate percent will a sum of rupees 4000 yield compound interest of rupees 410 in 2 years
Answers
Answered by
2
Answer:
5% per annum
Step-by-step explanation:
Let the Rate percent be R.
Principal (P) = Rs.4000
Compound Interest (CI) = Rs.410
Amount (A) = P+CI = Rs.(4000+410) = Rs.4410
Time (n) = 2 years
A = P (1 + R/100)ⁿ
=> 4410 = 4000 (1 + R/100)²
=> 441/400 = (1 + R/100)²
=> (21/20)² = (1 + R/100)²
=> 21/20 = 1 + R/100
=> R/100 = 21/20 - 1
=> R/100 = 1/20
=> R = 5%
Answered by
1
Step-by-step explanation:
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