At what rate% will a sum of ₹640 be compounded to ₹774.40 in 2 years?
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Given, Principal =₹640
Amount =₹774.40
Time =2 years
According to the question,
Amount =P(1+r/100)^t
=640(1+r/100)^2 =774.40
=(1+r/100)^2=774.40/640
=(1+r/100)^2 =(22/20)^2
=1+r/100=22/20
=r/100=22/20-1
=r=(2/20)×100
Therefore, r=10%
Rate =10%
Hope this will help you.
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Amount =₹774.40
Time =2 years
According to the question,
Amount =P(1+r/100)^t
=640(1+r/100)^2 =774.40
=(1+r/100)^2=774.40/640
=(1+r/100)^2 =(22/20)^2
=1+r/100=22/20
=r/100=22/20-1
=r=(2/20)×100
Therefore, r=10%
Rate =10%
Hope this will help you.
Pls mark my answer as brainliest
In case of any doubt pls comment below
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