At what rate percent per annum will a sum of ₹ 1,000 amounts

At what rate percent per annum will a sum of ₹ 1,000 amounts to ₹ 1,102.50 in 2 years at compound interest ?

Here , P = ₹ 1,100 , A = ₹ 1,102.50 , T = 2 years
Let rate be 'r '
Using the given formula ,

A = P		1 +	R		^T
			100

⇒	1102.50	=		1 +	r		²
	1000				100

⇒	11025	=		1 +	r		²
	10000				100

⇒		105		²	=		1 +	r		²
		100						100

⇒ 1 +	r	=	105
	100		100

⇒	r	=	5
	100		100

⇒ r = 5%