Find the rate for a sum that becomes 729/625 of itself in 2 years, when compounded annually.
Answers
Answered by
13
Step-by-step explanation:
If R is the rate of interest, P =100,
100 × (100 + R) / 100 × (100 +R)/100 =
729/625 × 100
(100 + R) × (100 + R) = 729/625 * 100 *100
(100 + R) ^2 = 729/625 × 100 × 100
100 + R = 27/25 × 100
R = 2700/25 - 100
=108 - 100
R = 8.
Interest rate is 8%
HOPE THIS IS HELPFUL
PLZZZZZZZ MARK IT AS BRAINLIEST
Answered by
0
Answer:
Rate =8%
8%is your correct answer of this question
Step-by-step explanation:
Similar questions