Question

if Rs 1,200 becomes Rs 1,323 in two years after the
interest is compounded anually, find the rate of compound
intrest​

Answer 1

Step-by-step explanation:

principal amount :- 1200

time :- 2 years

a :- 1323

then interest is a - p = 323

atp.

$1323 = 1200(1 + \frac{r}{100} ) {}^{2}$

$\frac{1323}{1200} = (1 + \frac{r}{100} ) {}^{2}$

$\sqrt{ \frac{1323}{1200} } = (1 + \frac{r}{100} )$

$1.05 = (1 + \frac{r}{100} )$

$( \frac{r}{100} ) = 1.05 - 1 = 0.05$

=> r = 0.05 x 100

=> r = 5 %

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