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1 year ago

At what rates percent compound interest will Rs2000 amount to Rs 2420 in 2 years.

1 answer:

4 0

The interest rates required to get a total amount of $2,420 from compound interest on a principal of $2,000 compounded 1 times per year over 2 years is 10% per year.

<h3>What is compound interest?</h3>

The interest on savings that is calculated on both the initial principal and the interest accrued over time is known as compound interest.

The concept of compound interest, also known as "interest on interest," is thought to have first appeared in Italy in the 17th century. It will accelerate the growth of a sum more quickly than simple interest, which is calculated only on the principal sum.

Money is multiplied more quickly through compounding, and the more times it is compounded, the higher the compound interest will be.

Using the formula A = P(1 + r/n)^nt

Solving for rate r as a decimal

r = n[(A/P)^(1/nt) - 1]

r = 1 × [(2,420/2,000)^{1/(1)(2)} - 1]

r = 0.1

Then convert r to R as a percentage

R = r × 100

R = 0.1 × 100

R = 10%/year

Learn more about compound interest

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3 years ago

Classify each polynomial and determine its degree. the polynomial 3x2 is a with a degree of . the polynomial x2y 3xy2 1 is a wit

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$\rm 3x^2$ is the polynomial of one variable with second-order and $x^2y+3xy^2+1$ is the polynomial of two variables with third-order

<h3>What is polynomial?</h3>

Polynomial is the combination of variables and constants in a systematic manner with "n" number of power in ascending or descending order.

We have polynomials:

$\rm 3x^2$ and

$x^2y+3xy^2+1$

For $3x^2$

In this polynomial, the number of variables is one and the maximum power of x is 2, therefore:

This is the polynomial of one variable with second order.

In polynomial, $x^2y+3xy^2+1$ there are two variables x and y.

The maximum power of x is 3( x has a power of 2 and y has a power of 1)

This is the polynomial of two variables with third order.

Thus, $\rm 3x^2$ is the polynomial of one variable with second-order and $x^2y+3xy^2+1$ is the polynomial of two variables with third-order.

Learn more about Polynomial here:

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2 years ago

to make one dozen muffins 3/4 cup of blueberries will be needed how many cups of blueberries ared needed to make 48 muffins

Helga [31]

You will need 6/4 or 1 1/2 cups of blueberries to make 48 muffins (2 dozen),

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3 years ago

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