If the amount bf Rs. 400/- for 2 years is 441 then find the annual rate of compound interes
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Answers
Answered by
13
Answer:
Correct Answer:
A) RS.484
Step-by-step explanation:
R=5%
New rate = 5+5=10%
Hope it's help you....
Answered by
2
Using the formula
A= P(1+r/100)^t
where t is the time period in years r is the rate, P is the principal and A is the amount so
441=400(1+r/100)²
441/400=(1+r/100)²
(21/20)²=(1+r/100)²
21/20–1=r/100
1/20=r/100
So,
R=5%
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