Question

Seema invested an amount of Rs 25,000 for two years at compound interest and received an amount of Rs. 26010 on maturity. What is the rate of interest p.a?

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Answer 1

Answer:

Principal = 25,000

Time = 2 years

S.I= 1010

PRT÷100=S.I

25000×2×R =1010×100

R= 1010×100÷25000×2

R=2.02%

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Answer 2

Step-by-step explanation:

Given Seema invested an amount of Rs 25,000 for two years at compound interest and received an amount of Rs. 26010 on maturity. What is the rate of interest p.a?

• P = 25,000, A = 26,010, T = 2 years,
•            So A = P(1 + R/100)^n
•                26,010 = 25,000 (1 + R/100)^2
•                 26,010 / 25,000 = (1 + R/100)^2
•                  2601 / 2500 = (1 + R/100)^2
•                      (51/50)^2 = (1 + R/100)^2
•                          51/50 = 1 + R/100
•                            R/100 = 51/50 – 1
•                            R/100 = 1/50
•                             R = 100 / 50
•                              R = 2%
• Therefore rate of interest p.a is 2%

Reference link will be

https://brainly.in/question/49593350