Class 8 Exam  >  Class 8 Questions  >  At what rate per cent per annum will ₹5000 am... Start Learning for Free
At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually?
Verified Answer
At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years,...
5832=5000(1+r)^2 where r is the interest rate

5832/5000=(1+r)^2

1.1664=(1+r)^2

1+r=√1.1664

=1.08

r=.08 or 8%
This question is part of UPSC exam. View all Class 8 courses
Explore Courses for Class 8 exam

Top Courses for Class 8

At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually?
Question Description
At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually?.
Solutions for At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually? in English & in Hindi are available as part of our courses for Class 8. Download more important topics, notes, lectures and mock test series for Class 8 Exam by signing up for free.
Here you can find the meaning of At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually? defined & explained in the simplest way possible. Besides giving the explanation of At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually?, a detailed solution for At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually? has been provided alongside types of At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually? theory, EduRev gives you an ample number of questions to practice At what rate per cent per annum will ₹5000 amount to ₹5832 in 2 years, compounded annually? tests, examples and also practice Class 8 tests.
Explore Courses for Class 8 exam

Top Courses for Class 8

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev