rs.2000 amounts to rs.2226.05 in two years at compound interest. find the rate of interest.
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Answered by
18
we will use formula in this question
CI=P [(1+R/100)^T-1]
CI=rs.2000
P=rs.2226.05
T=2years
R=? then putting the value in above formula and define rate of interest.
CI=P [(1+R/100)^T-1]
CI=rs.2000
P=rs.2226.05
T=2years
R=? then putting the value in above formula and define rate of interest.
Answered by
1
Answer:
5.5% rate of two years of compound interest
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