Sonika invested an amount of ₹ 5800 for 2 yea | vedclass

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(A) The formula for compound interest is given by: $CI = P \left[ \left( 1 + \frac{r}{100} \right)^{t} - 1 \right]$Given: Principal $(P)$ = ₹ $5800$,T

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$5$

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(A) The formula for compound interest is given by: $CI = P \left[ \left( 1 + \frac{r}{100} ight)^{t} - 1 ight]$Given: Principal $(P)$ = ₹ $5800$,Time $(t)$ = $2$ years,Compound Interest $(CI)$ = ₹ $594.50$.Substituting the values in the formula:$594.50 = 5800 \left[ \left( 1 + \frac{r}{100} ight)^{2} - 1 ight]$$\frac{594.50}{5800} = \left( 1 + \frac{r}{100} ight)^{2} - 1$$0.1025 = \left( 1 + \frac{r}{100} ight)^{2} - 1$$1.1025 = \left( 1 + \frac{r}{100} ight)^{2}$Taking the square root on both sides:$\sqrt{1.1025} = 1 + \frac{r}{100}$$1.05 = 1 + \frac{r}{100}$$0.05 = \frac{r}{100}$$r = 5 \% 	ext{ p.a.}$

Sonika invested an amount of ₹ $5800$ for $2$ years. At what rate of compound interest (in $\% \text{ p.a.}$) will she get an amount of ₹ $594.50$ as interest at the end of two years?

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