Question

calculate the rate of interest for which a sum of rupees 7200 gives a compound interest of rupees 119 8.08 in two years​

Answer 1

Answer:

In such cases we use the following formula for compound interest when the interest is calculated quarterly. Here, the rate percent is divided by 4 and the number of years is multiplied by 4. Note: A = P(1 + r4100)4n is the relation among the four quantities P, r, n and A.

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Answer 2

Answer:

8398.08

Explanation:

7200+1198.08=8398.08