What rate of percent will a sum of 640 rupees be compounded to 774.40 in 2 years
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Answer:
P=620 Rs.
A=774.40 Rs.
t=2 yrs
A=P(1+
100
r
)t
=774.40=620(1+
100
r
)
2
=(11/10)
2
=(1+r/100)
2
=
10
11
=1+
100
r
⇒
10
1
=
100
r
∴r=10%.
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