At what rate percent compound interest is Rs 700 amount to Rs 847 in 2 years?​

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  10%

Step-by-step explanation:

The balance when principal P is invested at rate r compounded n times per year for t years is ...

  A = P(1 +r/n)^(nt)

We have A = 847, P = 700, n = 1, t = 2 and we want to solve for r. Filling in the values and solving the equation gives ...

  847 = 700(1 +r)^2

  √(847/700) = 1 +r = 1.10 . . . . divide by 700 and take the square root

  r = 0.10 = 10% . . . . . subtract 1

An interest rate of 10% compounded annually will give a balance of ₹847.

step-by-step explanation:

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