Answers

  • qais
  • Content Quality
2016-04-30T20:31:37+05:30
A = P[1+R/100]^t
⇒6615 = 6000 [1 +R/100]^2
⇒[1 +R/100]^2 = 6615/6000
                        = 1102.5/1000
                        = (105/100)^2
equating both sides,
[1+R/100 ] = 105/100 = 1+ 5/100
⇒R = 5%
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