Question

the compound interest on rupees 5000 for 2 years is rupees 408 find the rate of interest per annum​

Answer 1

Step-by-step explanation:

Principal value - rs.5000

time - 2 years

CI - ₹408

so,

$a = p(1 + \frac{r}{100} ){n}$

again,

$si = \frac{p \times r \times t}{100}$

so that,

$408 = \frac{5000 \times 2 \times r}{100}$

rate = 4.08%

I hope it will help you....!