Question

Seema invested an amount of rs. 16000 for two years at CI and received An amount of rs. 17640 on maturity what is the rate of interest?

Answer 1

Answer:

Finally, the answer is 5%

This is my 3rd attempt to give you this answer. If any problem, say it via comment box. Don't just report it. Do you think I take directly from website? If people are trying really hard fro you to give answer, respect it!!!

Don't say the picture is not clear this time. All you need is a detailed answer, right? Then what's your problem?

Anyway, mark  AT LEAST this answer as the brainliest!!!

Answer 2

Answer:

Step-by-step explanation:

S = P x (1+I)^n

= 16000 x (1+I)^2

(1+I)^2 = 17640/16000

= 1.1025

Or 1 + I = 1.05

I = 0.05

Or 5%

or follow another process:

$16000 X (1+x)^2 = 17640\\(1+x)^{2} = \frac{17640}{16000} \\\\\\x= 0.05\\x= 5%$