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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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