Question

find the rate percent per annum if compounded yearly :
PRINCIPAL= RS.3136 , COMPOUND INTEREST= RS.345 , TIME= 2 YEARS , RATE= ?
PLZZZZZZZZ ANSWER IT PLZZZ.

Answer 1

c.I = p(1+r/100)^t-p
r=5.36%

Answer 2

Given:

Principal = Rs.3136

Compound interest = Rs.345

Time = 2 years

To Find:

Find the rate percent per annum

Solution:

Principal = Rs.3136

Compound interest = Rs.345

Amount = Principal+Interest = 3136+345=3481

Time = 2 years

Let r be the rate of interest in decimal

Formula:

$Amount = P(1+r)^t\\3481=3136(1+r)^2\\\frac{3481}{3136}=(1+r)^2\\\sqrt{\frac{3481}{3136}}=1+r\\\sqrt{\frac{3481}{3136}}-1=r$

0.053=r

5.3%=r

Hence the rate percent per annum is 5.3%