Question

At what rate percent will a sum of rupees 640 be compounded to rupees 77 4.4 years when the interest is compounded annually

Answer 1

Answer:10%

Step-by-step explanation:

Principle=640

Amount=774.40

Time=2yrs

Rate=?

Amount=p(1+r/100)^n

=774.40=640(1+r/100)^2

774.40÷640=(1+r/100)^2

(11/10)^2=(1+r/100)^2

(Both powers are cut)

11/10=1+r/100

11/10-1/1=r/100

1/10=r/100

R=100/10

R=10%. Answer

Therefore rate %=10%.