if a principal is compounded annually it's becomes 4 times in 2 years, what should be the rate of growth
Suppose the principal amount to be compounded annually is Rs.P.
Time; T = 2 years
Also let the rate of growth is R.
Now, according to the question we have;
Therefore rate of growth is 100%.
Time; T = 2 years
Also let the rate of growth is R.
Now, according to the question we have;
Therefore rate of growth is 100%.