Question

Find the rate of compound interest on ₹6,500 so that it can amount to ₹ 7,865 in 2 years

Answer 1

a=7865

p=6500

t=2

r=let it be X

interest=7865-6500=1365

so

p*r*t/100=1365

6500*2*X/100=1365

65*2*X=1365

X=1365/130

X=105/10

X=10.5%

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