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If the compound interest accrued on an amount of Rs 15000 in two years in Rs 2496 what is the rate of interest pcpa?
Wiki User
∙ 11y ago
The total value after 2 years is 15000 + 2496 = 17496.
So 17496 = 15000*(1 + r/100)2That is, (1 + r/100)2= 17496/15000 = 1.1664
(1 + r/100) = sqrt(1.1664) = 1.08
so r = 8% pa.
The total value after 2 years is 15000 + 2496 = 17496.
So 17496 = 15000*(1 + r/100)2That is, (1 + r/100)2= 17496/15000 = 1.1664
(1 + r/100) = sqrt(1.1664) = 1.08
so r = 8% pa.
The total value after 2 years is 15000 + 2496 = 17496.
So 17496 = 15000*(1 + r/100)2That is, (1 + r/100)2= 17496/15000 = 1.1664
(1 + r/100) = sqrt(1.1664) = 1.08
so r = 8% pa.
The total value after 2 years is 15000 + 2496 = 17496.
So 17496 = 15000*(1 + r/100)2That is, (1 + r/100)2= 17496/15000 = 1.1664
(1 + r/100) = sqrt(1.1664) = 1.08
so r = 8% pa.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoThe total value after 2 years is 15000 + 2496 = 17496.
So 17496 = 15000*(1 + r/100)2That is, (1 + r/100)2= 17496/15000 = 1.1664
(1 + r/100) = sqrt(1.1664) = 1.08
so r = 8% pa.
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