Question

Calculate the rate of interest for which a sum of rupees 600 give a compound interest of rupees 50 in 2 years

Answer 1

Answer:

the rate of interest is 8 1/3 %

Answer 2

Answer:

4%

Step-by-step explanation:

50 = 600(1+ r/100)^2 - 600

1= 12(1+r/100)^2 - 12

1/12 = (1 + r/100)^2 -1

13/12 = (1 + r/100)^2

(√13/12) = 1+ r/100

r = 100(1.04-1)= 0.04 × 100 = 4%