Question

At what rate the compound interest compounded annually will Rs 7500 becomes Rs 9075 in 2 years

Answer 1

$\underline{\textbf{Given:}}$

$\textsf{Principal=Rs.7500}$

$\textsf{Amount=Rs.9075}$

$\textsf{Number of years= 2 years}$

$\underline{\textbf{To find:}}$

$\textsf{Rate of interest}$

$\underline{\textbf{Solution:}}$

$\underline{\textbf{Compound interest formula:}}$

$\boxed{\mathsf{Amount=P\left(1+\dfrac{r}{100}\right)^n}}$

$\implies\mathsf{9075=P\left(1+\dfrac{r}{100}\right)^n}$

$\implies\mathsf{9075=7500\left(1+\dfrac{r}{100}\right)^2}$

$\implies\mathsf{\dfrac{9075}{7500}=\left(1+\dfrac{r}{100}\right)^2}$

$\implies\mathsf{\dfrac{363}{300}=\left(1+\dfrac{r}{100}\right)^2}$

$\implies\mathsf{\dfrac{121}{100}=\left(1+\dfrac{r}{100}\right)^2}$

$\implies\mathsf{\sqrt{\dfrac{121}{100}}=1+\dfrac{r}{100}}$

$\implies\mathsf{\dfrac{11}{10}=1+\dfrac{r}{100}}$

$\implies\mathsf{\dfrac{11}{10}-1=\dfrac{r}{100}}$

$\implies\mathsf{\dfrac{1}{10}=\dfrac{r}{100}}$

$\implies\mathsf{r=\dfrac{100}{10}}$

$\implies\boxed{\mathsf{r=10\,\%}}$

Answer 2

Answer:

r=10%

Step-by-step explanation:

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