Question

At what rate percentage p.a will rs 5625 amount to rs 6084 in 2 yrs at compound interest

Answer 1

Answer:

Rate of interest is 4%.

Step-by-step explanation:

Let the rate of interest be R.

Principal money= 5625.

Let the internet is compounded annually.

Amount after 2 years =6084.

Therefore,

6084= 5625(1+R) ^2

(1+R) ^2=(6084/5625)

1+R=√(1.0816)

1+R=1.04

R=0.04

Or, R= 4%

Answer 2

Answer:

4% per annum

Step-by-step explanation:

principle amount = P = 5625

Amount = A = 6084

Rate of interest = R % per annum

time = n = 2 years

A = P(1 + R/100)^n

6084 = 5625(1 + R/100)^2

6084/5625 =( 1 + R/100)^2

676/625 = (1 + R/100)^2

(26/25)^2 = (1 + R/100)^2

26/25 = 1 + R/100

1/25 = R/100

R = 4

4% per annum