if principal amount of rs.400 is invested, it gives rs.408 at the end of a year, if compound interrst is calculated annually. find the rate of interest.
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Answer:
2% per annum
Step-by-step explanation:
A=P(1+R/100)
408=400(1+R/100)
408/400=(1+R/100)
408/400-1=R/100
408-400/400=R/100
8/400×100=R
2%=R
It will help you
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