The rate of compound interest at which a sum of Rs. 8000 amounts to Rs. 8820 in 2 years, is:Question Description : 6%5%4%
Question
The rate of compound interest at which a sum of Rs. 8000 amounts to Rs. 8820 in 2 years, is:Question Description : 6%5%4%
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Solution 1
The formula for compound interest is A = P(1 + r/n)^(nt), where:
- A is the amount of money accumulated after n years, including interest.
- P is the principal amount (the initial amount of money).
- r is the annual interest rate (in decimal).
- n is the number of times that interest is compounded Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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