Alan invests $$\(\$ 200\)$$ at a rate of $$\(r \%\)$$ per year compound interest. After 2 years the value of his investment is $$\(\$ 206.46\)$$. Show that $$\(r^{2}+200 r-323=0\)$$.
Exam No：0580_w20_qp_41 Year：2020 Question No：8(f)(i)
Answer:
\(200\left(1+\frac{r}{100}\right)^{2}=206.46 \mathrm{oe}\)
\(1+\frac{2 r}{100}+\frac{r^{2}}{100^{2}}\) oe
\(r^{2}+200 r-323=0\)
\(1+\frac{2 r}{100}+\frac{r^{2}}{100^{2}}\) oe
\(r^{2}+200 r-323=0\)
Knowledge points:
E1.16.1 Use given data to solve problems on personal and household finance involving earnings, simple interest and compound interest. (Includes discount, profit and loss.) (Knowledge of compound interest formula is required.)
E1.16.2 Extract data from tables and charts.
Solution:
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