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At what rate per cent will a sum of rs 640 be compounded to rs 774.40 in 2 years |
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Answer» le=640Amount=774.40Time=2yrsRate=?Amount=p(1+r/100)^n=774.40=640(1+r/100)^2774.40÷640=(1+r/100)^2(11/10)^2=(1+r/100)^2(Both powers are CUT)11/10=1+r/10011/10-1/1=r/1001/10=r/100R=100/10R=10%. ANSWER Therefore RATE %=10%. |
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