Question

can u solve it on paper​

Answer 1

Pricipal (P) = Rs. 1000.

Amount (A) = 1102.50.

Compound Interest = 1102.50 - 1100 = 102.50.

Time (t) = 2 years.

Let Rate = r

Amount = P * [1 + (r/100)]^t

1102.50 = 1000 * [(100 +r)/100]^2

1102.50/1000 =[ (100 +r)/100]^2

11025 = (100 +r)^2

Sq. root (11025) = 100 +r

100 +r = 105

r = 5%.