Question

At what rate of compound interest , 10,000 amounts to 14641 in 4 years​

Answer 1

Answer:

An amount of Rs. 10000 becomes Rs. 14641 in 2 years if the interest is compounded half yearly. What is the rate of compound interest p.c.p.a. ?

A. 10%

B. 12%

C. 16%

D. 20%

E. None of these

Answer: Option D

Solution=

Let the rate be R% p.a.

Then,10000(1+R2×100)4=14641

⇒(1+R200)4=1464110000=(1110)4

⇒1+R200=1110

⇒R200=110

⇒R=20%

Answer 2

At what rate of compound interest, ₹ 10,000 compounds to ₹ 14,641 in 4 years?

answers is 20%