Question

Calculate the rate of interest at which ₹ 6250 amounts to ₹ 7290 in 2 years, if
compounded annually.

Answer 1

Step-by-step explanation:

A-P=7290-6250

1040 is answer

Answer 2

Answer:

Compound interest is the interest on principal amount, calculated based on both the initial principal and the accumulated interest from previous periods.

Formula used:





P- Principal Amount

R-Rate of interest

T- Time duration

A-Total amount after T years.





Step-by-step explanation: