Ex 2 Ruchi invested 1600 at the rate of compound interest for 2 yr. Sh

1.	Ex 2 Ruchi invested 1600 at the rate of compound interest for 2 yr. She got* 1764 after the specified period. Find the rate of interest.
Answer» Given,A = 1764, P = 1600, n = 2 yrs.,R =? For compound interestA = P(1 + R/100)^n1764 = 1600(1 + R/100)^21764/1600 = (1 + R/100)^2(1 + R/100) = 42/40R/100 = (42 - 40)/40R = (2/40)*100R = 5% Therefore, rate of interest = 5%

Ex 2 Ruchi invested 1600 at the rate of compound interest for 2 yr. She got* 1764 after the specified period. Find the rate of interest.

Answer»

Given,A = 1764, P = 1600, n = 2 yrs.,R =?

For compound interestA = P(1 + R/100)^n1764 = 1600(1 + R/100)^21764/1600 = (1 + R/100)^2(1 + R/100) = 42/40R/100 = (42 - 40)/40R = (2/40)*100R = 5%

Therefore, rate of interest = 5%