Question

principal is 400 ,amount is 1400 and time is 4.5year then what is rate of compound interest​

Answer 1

Answer:

The rate of compound interest is 32.1%

Step-by-step explanation:

The formula for compound interest is

$\boxed{A=P(1+\frac{r}{100})^n}$

Here, given that

$A=1400$ Rs.

$P=400$ Rs.

$n=4.5$ years

Thus,

$1400=400(1+\frac{r}{100})^{4.5}$

$\implies (1+\frac{r}{100})^{4.5}=\frac{7}{2}$

$\implies 1+\frac{r}{100}=(\frac{7}{2})^{1/4.5}$

$\implies 1+\frac{r}{100}=1.321$

$\implies \frac{r}{100}=0.321$

$\implies r=32.1\%$

Therefore, the rate of compound interest is 32.1%

Hope this helps.