Question
___ %.
A man invests ₹ 5000 at a certain rate of interest, compounded annually. At the end of one year, it amounts to ₹ 5600. The rate of interest per annum is
___ %.
Answer: Option A
:
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Since the tenure is 1 year, the compound interest will be same as simple interest.
Amount = Principal + Interest
Interest = 5600 - 5000 = 600
Interest for one year =PRT100=600
R=100×6005000×1=12%
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