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Question

At what rate percent compounded yearly will Rs. 44,000 amount to Rs. 48,510 in 2 yrs?

A 5%p.a. Correct Answer Incorrect Answer
B 8%p.a. Correct Answer Incorrect Answer
C 10%p.a. Correct Answer Incorrect Answer
D 12%p.a. Correct Answer Incorrect Answer
E none of these Correct Answer Incorrect Answer

Solution

A = `P[1+R/100]^t` ⇒ 48,510 = 44,000[1+ `R/100` ]2 ⇒`48510/44000` ` ` ` ` = [`(100+R)/100` [if gte msEquation 12]> 100+ R 100 [if !msEquation]-->[endif]-->]2 ⇒`21/20` [if gte msEquation 12]> 21 20 [if !msEquation]-->[endif]--> = `(100+R)/100` [if gte msEquation 12]> 100+ R 100 [if !msEquation]-->[endif]--> ⇒ 2,100 = 2,000 + 20 R ⇒ 2100 – 2000 = 20 R ⇒ 100 = 20 R ∴ R = 5% p.a.

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