Question

Find the rate of compound interest for Rs. 10,000 amounts to Rs. 11,000 in two years?

Answer 1

Answer:

11,000,P=rs. 10,000,t= 2 years. 100÷10=x. hence ,the required rate =5%.

Step-by-step explanation:

Given : Compound Interest will Rs.10,000 , amount to Rs. 13310 in three years.

To find : At what rate percent per annum?

Solution :

We know the compound formula,

Where, A is the amount A=Rs.11,000

P is the principal P=Rs.10,000

t is the time t=2 years.

r is the rate of interest.

Therefore, Rate of interest is 5%.

Hope this help