Question

helppp plzzzzz. a sum of money put out at compund interest in increased by Rs.180 at the end of first year and by Rs. 188.10 at the end of second year. find out the sum and rate of interest​

Answer 1

9514 1404 393

Answer:

₹172.25 at 4.5%

Explanation:

The growth factor is the ratio of the values at the end and beginning of the second year:

multiplier = 188.10/180 = 1.045 = 1 + 4.5%

The amount put out is the amount at the end of the first year, divided by this growth factor.

P = A/(1+r) = 180/1.045 = 172.25

The sum put out is ₹172.25, and the rate of interest is 4.5%.