Question

High Order Thinking Skills (HOTS)
10. Find the rate of interest for a sum that becomes
729
times of itself in 2 years, when compounded
annually.​

Answer 1

Answer:

Step-by-step explanation:

If principal amount=p

Then 729p=p(1+r)²

=> (1+r)²=729=27²

=> 1+r=27=> r=26.

If rate of interest=R

Then R=100*r=2600%