In what time will Rs 625 amount to Rs 1296 at 20 per annum compounded annually

Byju's Answer

Standard IX

Mathematics

Finding CI When Rate Compounded Annually

At what inter...

Question

A

3%

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B

4%

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C

5%

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D

6%

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Solution

The correct option is B 4%
Amount = Principal + Interest = Rs 676
Also, A=P[1+r100]n
⇒676=625[1+r100]2
⇒676625=[1+r100]2
⇒2625=1+r100
⇒r=4

Thus, rate of interest = 4%.

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