Practicing Success
Practicing Success
CUET Preparation Today
At what percentage rate, compound interest compounded annually for a sum of ₹40,000, will amount to ₹44,100 in two years? |
2 5 4 7.5 |
5 |
Amount = Principal × ( 1 + \(\frac{rate }{100}\) )t ATQ, 44100 = 40000 × ( 1 + \(\frac{rate }{100}\) )2 \(\frac{21 }{20}\) = 1 + \(\frac{rate }{100}\) \(\frac{rate }{100}\) = \(\frac{1 }{20}\) Rate = 5% |
