Question

If the cycle increase of Rs. 400 in 2 years is Rs. 441, what is the annual compound interest rate?​

Answer 1

Step-by-step explanation:

According to the given conditign

441=400(1+R100)2

=> 441400= (1+R100)2

=> (2120)2=(1+R100)2

=> 2120=1+R100

=> 2120−1=R100 => R100=120

R=5%

New rate = 5+5=10%

Amount=400(1+10100)2

=400×11/10×11/10=RS.484