if the amount of Rs.400/-for 2 years is 441 then find the annual rate of compound interest
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Step-by-step explanation:
We can find the rate of interest by using the Formula for finding amount.
=> A = P[1 + R/100]^T
Given P = 400
A = 441
T = 2 years
Put all the given values in the formula
441 = 400[1 + R/100]^2
=> 441/400 = [1 + R/100]^2
=> 21/20 = 1 + R/100
=> 21/20 - 1 = R/100
=> 1/20 = R/100
=> R = 5%
Hence, R% = 5%
Answered by
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Answer:
R = 5%
Step-by-step explanation:
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