Question
An amount of Rs. 13,000 is invested at a certain annual
compound interest rate, with interest compounded yearly. After 2 years, the total amount grows to Rs. 18,101.20. Determine the rate of interest at which the investment was made.Solution
Let the rate of interest = 'y%' p.a. Total amount received = 13000 X {1 + (y/100)}2 = 18101.2 Or, {(100 + y)/100}2 = 18101.2 ÷ 13000 = 1.3924 Or, {(100 + y)/100} = √1.3924 = 1.18 So, 100 + y = 118 So, y = 118 - 100 = 18 The sum was invested at compound interest of 18% p.a.
What does HTML stand for in web technology?
Which layer of the OSI model provides flow control, error checking, and reliability in data transmission?
In C programming, which header file is commonly used to work with DMA?
What is the data transmission direction in a Token Ring network?
Store data in single table
State true/false
Once the email is compromised, all other sites and services online associated with this email can be compromised.
Which of the following backup types provides the fastest backup and recovery performance but requires the most storage space?
What is the purpose of a semaphore in synchronization?
In which programming language is dynamic memory allocation commonly used?
What does the term "phishing" refer to in the context of cybersecurity?
Relevant for Exams:
