Alan invests $$\(\$ 200\)$$ at a rate of $$\(r \%\)$$ per year compound interest. After 2 years the value of his investment is $$\(\$ 206.46\)$$. Solve the equation $$\(r^{2}+200 r-323=0\)$$ to find the rate of interest. Show all your working and give your answer correct to 2 decimal places. $$\[ r= ............................................ \]$$
Exam No：0580_w20_qp_41 Year：2020 Question No：8(f)(ii)
Answer:
\(\frac{-200+\sqrt{200^{2}-4(1)(-323)}}{2 \times 1}\)
\(1.60\) cao final answer
\(1.60\) cao final answer
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.)
E2.5.4 Derive and solve quadratic equations by factorisation, completing the square and by use of the formula.
Solution:
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