Question

at what rate percent will the sum of rupees 1,000 amount to rupees 1102.50 in 2 years at compound interest

Answer 1

Principal = rs. 1000

Amount = rs. 1102.50

Time = 2years

Amount = P ( 1+R/100 )^T

1102.50 = 1000 (1+R/100 )^2

1102.50/1000 = (1+R/100)^2

110250/100000 = (1+R/100)^2

441/400 = (1+R/100)^2

√441/400 = (1+R/100)

21/20 = 1+R/100

21/20-1 = R/100

R/100 = 1/20

R = 1/20 * 100

R = 5% p.a.

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Answer 2

Answer:

Amount = P ( 1+R/100 )^T

1102.50 = 1000 (1+R/100 )^2

1102.50/1000 = (1+R/100)^2

110250/100000 = (1+R/100)^2

441/400 = (1+R/100)^2

√441/400 = (1+R/100)

21/20 = 1+R/100

21/20-1 = R/100

R/100 = 1/20

R = 1/20 * 100

Therefore ,R = 5% p.a.