Question

Mr. Raghava has deposited 8,000 with a finance company for a period of1 year. the company credits the interest quarterly. He received 9,724.05 after one year. Find the rate of interest per cent per annum.​

Answer 1

Answer: 21.55%

Step-by-step explanation:

p=8000

r=?

n=1

i=(9724.05-8000)=1724.05

i=(pnr)/100

r=21.55