Question

Sangeeta invested 20,000 in the bank for 4 years and got back 29,282 after
4 years. What was the rate of interest per annum payable annually?
​

Answer 1

Answer:

10% per annum

Step-by-step explanation:

Let the compound interest be R %

Principal amount or P = Rs. 20000

Amount received or A = Rs. 29282

Time = 4 years

Now, A = p (1 + R/100)^T

⇒ 29282 = 20000 (1 + R/100)^4

⇒ (1 + R/100)^4 = 29282/20000

⇒ (1 + R/100)^4 = 1.4641

⇒ 1 + R/100 = ⁴√1.4641

⇒ 1 + R/100 = 1.1

⇒ R/100 = 1.1 - 1

⇒ R/100 = 0.1

⇒ R = 10 % Per annum    Answer

Hope it helps you♥️♥️

Answer 2

Answer:

HEY MATE YOUR ANSWER IS

Let the compound interest be R %

Principal amount or P = Rs. 20000

Amount received or A = Rs. 29282

Time = 4 years

Now, A = p (1 + R/100)^T

⇒ 29282 = 20000 (1 + R/100)^4

⇒ (1 + R/100)^4 = 29282/20000

⇒ (1 + R/100)^4 = 1.4641

⇒ 1 + R/100 = ⁴√1.4641

⇒ 1 + R/100 = 1.1

⇒ R/100 = 1.1 - 1

⇒ R/100 = 0.1

⇒ R = 10 % Per annum