Question
At what rate percent compounded yearly will Rs. 5000
amount to Rs 5408 in 2 yrs?Solution
A = P ( 1 + R/100) t 5408 = 5000 ( 1 + R/100)² 5408 /5000= (100 + R/100)² 26/25 = (100 + R )/100 2600 = 2500 + 25 R 2600 – 2500 = 25 R 100 = 25 R R = 4% p.a .
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