A certain sum amounted to 9/4 of the Principle on Compound Interest in 2 years. Find the Rate of Interest ?
a) 35% b) 50% c) 55% d) Can't be Determined e) None of these
Answers and Explanations are welcome in comments
The Correct Answer will be Given Tomorrow
A = P [1 + (R/100)]^N
ReplyDelete9/4 P = P [1+ (R/100)]^2
Cancelling P on Both sides
9/4 = [1+(R/100)][1+(R/100)]
(3/2)^2 = [1+(R/100)]^2
3/2 = 1+(R/100)
1/2 = R/100
ie R = 50 %
Answer and Explanation of Question No. 33
ReplyDeleteCorrect Answer is :(b) "50%"
Explanation : Just Remember If principle is not given and principle is not required the we can assume the value of Principle instead taking it x.
Let Principle = 1
then it amounted to 9/4 of 1 = 9/4
Amount = P (1+r%)^2
9/4 = 1 (1+r%)^2
3/2 = 1+r%
r= 3/2-1 *100
r= 50%
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