Question

Mr. Lalit invested rs.5000 at a certain rate of interest compounded anually for 2 years at the end of first year its amount s to rs.5325 calculate the rate of interest

Answer 1

Hey User !

=) P=5000

Amount at the end of first year=5325

S.I=A-P

=5325-5000

=325

1)RATE=SI×100÷P×T

=325×100÷5000×1

=325÷50

=6.5%p.a

Hope , It Helps ...