Question

Sujay invested an amount of rupees 16000 for two years at compound interest and received an amount of rupees 17640 on maturity. what is the rate of interest?

Answer 1

Answer:

good morning have a nice day

Answer 2

$\huge\mathfrak{Answer}$

$\huge \boxed{ \rm \sf \frac{a}{p} = {1 + \frac{r}{100} }^{n}}$

$\huge \boxed{ \rm \sf \frac{17640}{16000} = {1 + \frac{r}{100} }^{2}}$

$\boxed{ \rm \sf \frac{17640}{16000} = {1 + \frac{r}{100} }^{2}} \implies { \frac{21}{20} }^{2}$

OR

$\sf \boxed{1 + \frac{r}{100} } = \frac{21}{20} \\ \\ \therefore \sf \: rate \: \: = 5\%$

5% is the answer