Question
At what rate per cent per annum will Rs.2304 amount to Rs.2500 in 2 years at compound interest ?
Answer: Option C
Answer: (c)Using Rule 1,Let the rate per cent per annum be r. Then,2500 = 2304$(1 + r/100)^2$$(1 + r/100)^2 = 2500/2304 = (50/48)^2$$1 + r/100 = 50/48 = 25/24$$r/100 = 25/24 - 1 = 1/24$r = $100/24 = 25/6 = 4{1}/6$%
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Answer: (c)Using Rule 1,Let the rate per cent per annum be r. Then,2500 = 2304$(1 + r/100)^2$$(1 + r/100)^2 = 2500/2304 = (50/48)^2$$1 + r/100 = 50/48 = 25/24$$r/100 = 25/24 - 1 = 1/24$r = $100/24 = 25/6 = 4{1}/6$%
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