SATHEE: Quantitative Aptitude Ques 2229

Quantitative Aptitude Ques 2229

Question: At what rate will a sum of Rs. 1000 amount to Rs. 1102.50 in 2 yr at compound interest?

Options:

A) 6%

B) 6.5%

C) 5%

D) 5.5%

Show Answer

Answer:

Correct Answer: C

Solution:

Given, $ P=Rs.1000, $ $ T=2yr, $ $ A=Rs\text{. 1102}\text{.50,} $ $ r=? $ We know that, $ A=P{{( 1+\frac{r}{100} )}^{T}} $

$ \Rightarrow $ $ 1102.50=1000{{( 1+\frac{r}{100} )}^{2}} $

$ \Rightarrow $ $ \frac{1102.50}{1000}={{( \frac{100+r}{100} )}^{2}} $
$ \Rightarrow $ $ \frac{11025}{10000}={{( \frac{100+r}{100} )}^{2}} $

$ \Rightarrow $ $ {{( \frac{105}{100} )}^{2}}={{( \frac{100+r}{100} )}^{2}} $
$ \Rightarrow $ $ \frac{105}{100}=\frac{100+r}{100} $

$ \Rightarrow $ $ 105=100+r $
$ \Rightarrow $ $ r=105-100=5 $ %

$ \therefore $ $ r=5 $ %

Quantitative Aptitude Ques 2228

Quantitative Aptitude Ques 2230

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