At what rate of compound interest per annum will a sum of 1200 becomes 1348.32 in 2 years a 4% B 3% C 6% D 5%?

At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?

A. 6%

B. 6.5%

C. 7%

D. 7.5%

Answer: Option A

Solution(By Examveda Team)

$$\eqalign{ & {\text{Let}}\,{\text{the}}\,{\text{rate}}\,{\text{be}}\,R\% \,p.a. \cr & {\text{Then}},\,1200 \times {\left( {1 + \frac{R}{{100}}} \right)^2} = 1348.32 \cr & \Rightarrow {\left( {1 + \frac{R}{{100}}} \right)^2} = \frac{{134832}}{{120000}} = \frac{{11236}}{{10000}} \cr & \therefore {\left( {1 + \frac{R}{{100}}} \right)^2} = {\left( {\frac{{106}}{{100}}} \right)^2} \cr & \Rightarrow 1 + \frac{R}{{100}} = \frac{{106}}{{100}} \cr & \Rightarrow R = 6\% \cr} $$


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At what rate of compound interest per annum will a sum 1200 become 1348.32 in 2 years?

134832=1200(1+R100)2(1+R100)2=1348.301200(1+R100)2=1123610000(1+R100)=106100R=6% Q.

At what rate of compound interest per annum will a sum of Rs 1200 become Rs 1452 in 2 years?

=>R=10 %

At what rate of compound interest per annum will a sum of 1400 become 1573.04 in 2 years?

Compound Interest #10.

At what rate percent compound interest per annum will Rs 640 amount to Rs 774.40 in 2 years?

Answer : 10% p.a.