Question

if the principal Rs 10000 amount to 13924 in 2 years what will be the compound interest. ​

Answer 1

Answer:

rate of interest = 18%

Step-by-step explanation:

given, A = 13924, P = 10000, t = 2

compound interest, CI = P [1+$\frac{r}{100}]^{t}$

P = principal amount, r = rate of interest, t = number of time periods

to find: rate of interest

substituting to the equation we get

13924 = 10000 [ 1 + $\frac{r}{100}$]²

13924 = 10000 × $[\frac{(100+r)}{100}]^{2}$

13924 = 10000 × $\frac{(100+r)^{2} }{10000}$

$13924 = 10000 +200r +r^{2}$

⇒ $r^{2} + 200r + 3924 = 0$

⇒ r = 18%

hence, rate of interest = 18%