Question

Find the rate when principal = Rs 20000, time = 2 years and amount = Rs 24000

Full explanation pls​

Answer 1

Answer:

P=Rs.20,000,A=Rs.24,200.n=2years.

A=P[1+

100

r

]

n

⇒24,200=20,000(1+

100

r

)

2

⇒

1.21

=1+

100

r

⇒1.1=1+

100

r

⇒

100

r

=1.1−1=0.1⇒r=10

The rate of interest is 10 %

Answer 2

Answer:

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