Question

how to find rate of interest if copounded anually

Answer 1

Answer:

the formula to found compound interest is

→principal ×(1 + rate of interest)^ time in year = amount

FOR EXAMPLE :

IF, principal → Rs. 200

Rate of interest → 20%

Time → 2 years

Let's solve it by using above formula:

200×(1+ 20/100)²

= 200 × [(100+20)/100]²

= 200 × 120/100 × 120/100

= Rs. 288

The Rs.288 is the amount after compounded annually for 2 years of Rs.200.

Then, to find the compound interest only you have to subtract the principal from the amount.

Let's do it ,

compound interest is = 288 - 200

= Rs. 88

so, Rs. 88 is the compound interest.

I hope it will be helpful to you.｡◕‿◕｡

I hope you well sleep..´◡‿◡`