Question

Principal = 4600 rs
Period = 5 years
Total Amount = 6440 rs
Annual rate of interest = ?%

Answer 1

Answer:

8%

Step-by-step explanation:

Given,

Principle = 4600 rs

Period = 5 years

Total Amount = 6440 rs

Annual rate of interest = ?%

Amount=Principle(P)+SI

Amount=Principle+PTR/100

Amount=P(1+TR/100)

6440=4600(1+5*R/100)

by solving R=8%