The rate of compound interest at which a sum of Rs. 8000 amounts to Rs. 8820 in 2 years, is:
Option 1 : 5% Option 2 : 4% Option 3 : 6% Option 4 : 7%
Option 5 :
None of
these

• A=P(1+R/100)^N
  8820=8000(1+R/100)^2
  441/400=(1+R/100)^2
  (21/20)^2=(1+R/100)^2
  21/20=1+R/100
  R=100/20=5
• 9 years agoHelpfull: Yes(4) No(1)
• gvtfdfghjhgtj4878890
• 9 years agoHelpfull: Yes(2) No(4)
• (8820/8000)=(1+R/100)^2
  (21/20)^2=(1+R/100)^2
  R=5%
  
  
  
• 9 years agoHelpfull: Yes(1) No(0)