📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store

    • Question

      An investment of ₹21,475 grows to ₹30,924 in two

      years when interest is compounded annually at a rate of 'r%' per annum. What is the value of the interest rate 'r'?
      A 25% Correct Answer Incorrect Answer
      B 20% Correct Answer Incorrect Answer
      C 12% Correct Answer Incorrect Answer
      D 10% Correct Answer Incorrect Answer

      Solution

      ATQ; 30924 = 21475 X {1 + (r/100)}2 Or, {1 + (r/100)}2 = (36/25) Or, 1 + (r/100) = (6/5) Or, (r/100) = (6/5) - 1 Or, (r/100) = (1/5) So, r = 20

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question