Question

find the annual rate of compound interest at which rupees 5000 becomes rupees 5832 after 2 years​

Answer 1

Answer: Annual rate of compound interest, r=8%

Step-by-step explanation:

Given:

CI =5832, P=5000, n=2

Formula:

CI=P(1+r/100)^n

Solution:

5832=5000(1+r/100)^2

5832=5000(100+r/100)^2

5832=5000/10000(100+r)^2

5832=1/2(100+r)^2

5832*2=(100+r)^2

11664=(100+r)^2

√11664=(100+r)

108=(100+r)

108-100=r

r=8

Answer 2

Step-by-step explanation:

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