Question

A sum of money becomes 1.1025 times in 2 Years at compound interest. The rate of interest per annum is
a) 20%
b) 5%
c)8%
d) 10%​

Answer 1

Answer:

Amount = Principal(1+rate100)n

1102.5=1000(1+5100)2

1102.51000=441400

1.1025=1.1025

L.H.S=R.H.S

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