Question

Find the compound interest and time when rate is 5 percent , principal ₹400 , and amount ₹441​

Answer 1

Step-by-step explanation:

A sum of Rs. 400 n would become Rs.441 after 2 years at r% compound interest. What is the value of r?

Using the formula

A= P(1+r/100)^t where t is the time period in years r is the rate, P is the principal and A is the amount so

441=400(1+r/100)^2

441/400=(1+r/100)^2

(21/20)^2=(1+r/100)^2

21/20–1=r/100

1/20=r/100 so

R=5%

Hope this helps.