Question

29. A man borrowed Rs. 12500 from a bank and after 2 years he paid back Rs. 13520 in full settlemento
his debt. What is the percentage rate of compound interest charged by the bank?
O A. 3% p.a.
O B.4% p.a.
O C. 5% p.a.
O D. 6% p.a.​

Answer 1

Answer:

option D is correct answer

Answer 2

Answer:

O B.4% p.a.

Step-by-step explanation:

$Amount = P{(1+ \frac{R}{100} )}^{n} \\ 13520= 12500 \times {( \frac{100 +R}{100} )}^{2} \\ \frac{13520 \times 10000}{12500} = {(100 +R)}^{2} \\ {(100 +R)}^{2} = 10816 \\ {(100 +R)}^{2} = {(104)}^{2} \\ 100 + R = 104 \\ R = 4$

O B.4% p.a.

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