Question

the compound interest accured in 2 yrs on principal amount of rs. 16250 is rs. 5616 wtat is rate of interest​

Answer 1

CI = 5616, P = 16250, Time = 2 years.

Now,

CI = A - P

CI = P(1 + r/100)^n - P

5616 = 16250(1 + r/100)^2 - 16250

21866 = 16250(1 + r/100)^2

r = 16%.

Therefore, Rate of interest = 16%

Hope this helps!