find the rate of compound interest at which a principal becomes 1.69 times in 2 years.
Answers
Answered by
8
Answer:
r=30%
Step-by-step explanation:
principle =p=>1.69p
=>169%
intrest=69%
if rate 30%
for 2yrs CI=69%
Answered by
23
rate of compound interest = 30 % if principal becomes 1.69 times in 2 years.
Step-by-step explanation:
Let say Principle = P
Rate of interest = R
Time = n = 2 Years
Amount = 1.69P
A = P (1 + R/100)ⁿ
=> 1.69P = P ( 1 + R/100)²
=> 1.69 = ( 1 + R/100)²
=> 1.3 = ( 1 + R/100)
=> R/100 = 0.3
=> R = 30
rate of compound interest = 30 %
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