Question

Deepak borrows 50,000 from his
friend. After 2 years, he returns the
money with compound interest of
6180. Find the rate of interest charged
by his friend.

Answer 1

Answer:

6%

Step-by-step explanation:

▁ ▂ ▄ ▅ ▆ ▇ █SOLUTION█ ▇ ▆ ▅ ▄ ▂ ▁

★GIVEN

★PRINCIPAL=50,000

★TIME=2 years

★CP=6180

★AMOUNT=56180

★FIND:-RATE OF INTEREST

★According to the formula of cp★

Hence

the rate of interest is 6%