Find the rate percent per annum, if Rs 2000 amount to Rs 2315.25 in an year and a half, interest being compounded six monthly. Show
Let the rate percent per annum be R.
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At what rate percent will 2008 to Rupees 2315.25 in 3 years at compound interest?Therefore, rate of interest = 5% p.a.
At what rate percent per annum will a sum of ₹ 2000 amount to ₹ 2205 in 2 years compounded annually?Hence, the required rate of interest is 5%. Was this answer helpful?
At what rate per annum will Rs 2000 amount to Rs 2400 in 2 years?Expert-Verified Answer
∴In 2 years rupees 2000 will amount to rupees 2420 at 10% per annum compound interest.
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