Question

calculate the rate of interest If the principal is 40,000 and the interest is compounded half yearly for two years and the amount is 48620.25 after 2years according to picture q no 18

Answer 1

Principal=rs. 40000
Amount= rs. 48620.25
Time=2 years
Rate=?
Therefore, A= P (1+r/100) ^ n
48620.25= 40000×(1+r/100)^3
Solve the equation...
The ans is_ 5%