Principal rupees 4000 at compound interest 410 amount 4410 time is 2 years find rate of interest.
Answers
Answered by
1
Answer:
Given details are,
Principal = Rs 4000
Time = 2years
CI = Rs 410
Rate be = R% per annum
By using the formula,
CI = P [(1 + R/100)n – 1]
410 = 4000 [(1 + R/100)2 – 1]
410 = 4000 (1 + R/100)2 – 4000
410 + 4000 = 4000 (1 + R/100)2
(1 + R/100)2 = 4410/4000
(1 + R/100)2 = 441/400
(1 + R/100)2 = (21/20)2
By cancelling the powers on both the sides,
1 + R/100 = 21/20
R/100 = 21/20 – 1
= (21-20)/20
= 1/20
R = 100/20
= 5
Step-by-step explanation:
Similar questions