πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

  • google app store apple app store
  • βœ–

      Question

      The compound interest (compounding half yearly)

      received on Rs. 10000 for 2 years is Rs. 10736. What is the rate of interest per annum?
      A 40 percent Correct Answer Incorrect Answer
      B 20 percent Correct Answer Incorrect Answer
      C 35 percent Correct Answer Incorrect Answer
      D 22 percent Correct Answer Incorrect Answer

      Solution

      ATQ, Amount = 10000 + 10736 = 20736 20736 = 10000[1 + (R/200)]4 β‡’ 20736/10000 = [1 + (R/200)]4 β‡’ (12/10) - 1 = R/200 β‡’ R = 40 ∴ Rate of interest = 40%

      Practice Next
      ask-question