Find the rate of compound interest for Rs. 10,000 amounts to Rs. 11,000 in two years?
Answers
Answered by
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
Similar questions