Question

At what rate of compound interest will ₹ 20,000 amount to ₹ 26,450 in 2 years?

विकल्प

• 10%

• 12%

• 15%

• 20%

Answer 1

15%

Explanation:

Step 1: Use the compound interest formula for amount

`A = P(1 + r/100)^n`

Where:

• A = 26,450
• P = 20,000
• n = 2 years
• r = ? (rate of interest)

Step 2: Substitute the values

`26,450 = 20,000(1 + r/100)^2`

`(26,450)/(20,000) = (1 + r/100)^2`

`1.3225 = (1 + r/100)^2`

Step 3: Take the square root of both sides

`sqrt(1.3225) = 1 + r/100`

`1.15 = 1 + r/100`

Step 4: Solve for r

`r/100 = 1.15 - 1`

`r/100 = 0.15`

r = 15%