Q25 of 89 Page 14

At what rate percent will a sum of Rs. 1000 amount to Rs. 1102.50 in 2 years at compound interest?

Given,


Principal = Rs.1000


Amount = Rs.1102.50


Time = 2 years


Let rate of interest = R % per annum


So,


A =


=


=


=


=


=


Hence,


Rate of interest = 5 % per annum


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