Question

find the rate of compound interest compounded annually if 2000 rupees became rupees 2662 in 3 years​

Answer 1

Answer:

10%

Step-by-step explanation:

A = P(1 + \frac{r}{n})^{nt}

A = final amount  which is 2662

P = initial principal balance  which is 2000

r = interest rate  to be calculated

n = number of times interest applied per time period  is Annually

t = number of time periods elapsed is 3