at what rate per annum will rupees 800 amount to Rs 882 in 2 years com – InterviewSolution

1.

at what rate per annum will rupees 800 amount to Rs 882 in 2 years compound annually

Answer»

here the amount is 882 the principle is 800 and time is 2 years , let r be the rate.

so, A = p(1+r)ⁿ=> 882 = 800(1+r)²=> (1+r)² = 88/80 = 11/10 = 1.1=> 1+r = √1.1 = 1.048

so, r = 0.048 or 4.8%

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