Practicing Success
At what rate percent per annum will a sum of Rs. 50625 amounts to Rs. 104976 in four years, if the interest is compounded annually? |
10% 30% 20% 25% |
20% |
Principal : Amount 50625 : 104976 625 : 1296 Ratio after four years: Principal : Amount = \(\sqrt[4]{625}\) : \(\sqrt[4]{1296}\) = 5 : 6 Rate percent = \(\frac{1}{5}\) × 100 = 20% |