Question

Seema invested an amount of Rs.16000 for 2 years at compound interest and received an amount of Rs. 17640 on maturity.What is the rate of interest?​

Answer 1

Answer:

5%

Step-by-step explanation

Amount = Principal(1 + R/100)T R = rate, T = time Calculation: According to the question, Amount = Principal(1 + R/100)T ⇒ 17640 = 16000(1 + R/100)2 ⇒ 17640/16000 = (1 + R/100)2 ⇒ 1 + R/100 = √(1764/1600) ⇒ 1 + R/100 = 42/40 ⇒ R/100 = (42/40) – 1 ⇒ R = (2/40)× 100 ⇒ R = 5%

Answer 2

Answer:

5%

Step-by-step explanation:

P=16000 ,A=176400 ,T=2years

Let rate be R%

$a = p(1 + \frac{r}{100} )t \\ \\ 17640 = 16000 {(1 + \frac{r}{100} }) ^{2} \\ \\ = \frac{17640}{16000} = (1 + \frac{r}{100}) ^{2} \\ \\ = {( \frac{42}{40}) }^{2} = {(1 + \frac{r}{100} )}^{2} \\ \\ = \frac{42}{40} = ( 1+ \frac{r}{100}) \\ \\ \frac{r}{100} = \frac{21}{20} - 1 \\ \\ = \frac{1}{20} \\ \\ r = \frac{100}{20}$

=5%

Hope it helps you from my side