Question

Find the rate percent per annum, if Rs. 2,000 amount
to Rs. 2,163.20 in 6 months, interest being compound
quarterly.​

Answer 1

Answer:

principal amount - 2000

final amount 2163.20

Interest after final amount - principal amount =2163.20-2000= 163.20

time =6 month =1/2 year

so formula is final amount = p (1+ r/100)^t =

2163.20 =2000(1+r/100)^2

t=2 because interest is deducted quarterly

so  $\sqrt{2163.20/2000$ =1 +r /100

1.04 =1 + r /100

r =4

this is quarterly So

so rate % per annum is 16 %  .