Question

at what rate will a sum of RS 3,200 produce an interest of RS 672 in 2 years if compounded actually?​

Answer 1

Answer:

10% per annum

Step-by-step explanation:

Principal (P) = Rs.3200

Time (T) = 2 years

Compound Interest (CI) = Rs.672

Amount (A) = P + CI = Rs.(3200+672) = Rs.3872

Let the rate be R.

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

3872 = 3200 (1 + R/100)²

3872/3200 = (1 + R/100)²

1936/1600 = (1 + R/100)²

44/40 = 1 + R/100

R/100 = 44/40 - 1

R/100 = 4/40

R/100 = 1/10

R = 10

Hence, the rate is 10% per annum.

Answer 2

Answer:

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