Question

at what rate percentage p.a will ₹5625 amount to ₹6084 in 2 years at compound interest

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Answer 1

Step-by-step explanation:

using formula:

Amount = P ( 100+R /100) ^ t

Answer 2

Rate of percentage is 4 %

Step-by-step explanation:

Given,

Principal, P = 5625

Amount, A = 6084

Time ,t = 2 year

Rate of percentage = ?

We know that,

Amount, $A = P\times \left ( 1 + \frac{r}{100} \right )^t$

$6084 = 5625\times \left(1 + \frac{r}{100}\right)^2$

$\sqrt \frac{6084}{5625} = 1 + \frac{r}{100}$

$\frac{78}{75} = 1 + \frac{r}{100}$

$\frac{78}{75} - 1 = \frac{r}{100}$

$\frac{78 - 75}{75} = \frac{r}{100}$

$300 = 75 \times r$

$r = 4$ %

Rate of percentage is 4 %