Question

Find rate percent annum, if compounded yearly Principal =₹196, amount= ₹225 and time = 2 years.​

Answer 1

Explanation -

# Given - Total payment = 225 Rs. Principal = 196 Rs. Time = 2 years.

# Solution - Total due after compounding interesting. Total payment = P (1 + r)^t. 225 = 196 (1 + r)^2. 225/196 = (1 + r)^2. Taking root on both sides - 15/14 = 1 + r. ...

Hence, rate percent is 7.14 %. Thanks dear. Hope this helps you