Question

SOLVE PROPERLY....

at what rate percent per annum will 6000 amount to 6615 in 2 years when interest is compounded yearly. ​

Answer 1

The rate of CI. is 5% is the ans

Answer 2

Answer:

principal=6000

amount-6615

time=2 years

amount=P(1+r/100)^time

6615=6000(1+r/100)^2

6615/6000=(1+r/100)^2

1.1025=(1+r/100)^2

√1.1025=1+r/100

1.05=1+r/100

1.05-1=r/100

0.05*100=r

r=5

therefore,

r=5%

Step-by-step explanation:

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