Question

Q). at what rate of compound interest rs 10000 will be amounted rs 12100 in 2 years ?

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Answer 1

To Find :

• Find rate of compound interest ?

Solution :

• Formula Used :

➣ A = P(1 + R/100)^T

Where,

• A = Amount = Rs 12100
• P = Principal = Rs. 10000
• R = Rate of interest
• T = Time = 2 years

Finding the rate of compound interest :

➣ 12100 = 10000(1 + R/100)²

➣ 12100/10000 = (1 + R/100)²

➣ 1.21 = (1 + R/100)²

➣ (1.1)² = (1 + R/100)²

➣ (1 + 0.1)² = (1 + R/100)²

➣ (1 + 10/100)² = (1 + R/100)²

• Cancelling power both sides.

➣ (1 + 10/100) = (1 + R/100)

• Cancelling 1 both sides.

➣ 10/100 = R/100

• Cancelling 100 both sides.

➣ 10 = R

➣ R = 10

Hence,

• Rate of compound interest = 10% p.a.

Answer 2

Answer:

Answer Expert Verified

At 10% p.a. of compound interest Rs 10000 will be amounted Rs 12100 in 2 years