Answer:
49% and 30% respectively
Step-by-step explanation:
Step one:
Given data
Principal = Rs. 4,200
Final Amount= Rs. 9282 respectively
time = 2 years and
time = 4 years
Required
The rate of interest for 2 and 4 years
Step two:
the compound interest formula is
A= P(1+r)^t
for 2 years
Substitute
[tex]9282= 4200(1+r)^2\\\\9282/4200= (1+r)^2[/tex]
[tex]1+r= \sqrt{\frac{9282}{ 4200} }\\\\1+r= \sqrt{2.21} \\\\1+r= 1.49\\\\r=1.49-1\\\\r= 0.49\\\\[/tex]
the rate is 49%
For 4 years we have
[tex]9282= 4200(1+r)^4\\\\9282/4200= (1+r)^4[/tex]
[tex]1+r= \sqrt[4]{\frac{9282}{4500} } \\\\1+r=\sqrt[4]{2.21} \\\\1+r= 1.30\\\\r=1.30-1\\\\r= 0.30\\\\[/tex]
the rate is 30%
