Question

*For the principal of Rs 1500 the interest for the second year is Rs 96 more than that of first year.What should be the rate of compound interest?*

1️⃣ 6 %
2️⃣ 12 %
3️⃣ 8 %
4️⃣ can't say for sure​

Answer 1

Answer:

Given :- For the principal of Rs 1500 the interest for the second year is Rs 96 more than that of first year.What should be the rate of compound interest?*

1) 6 %

2) 12 %

3) 8 %

4) none of these .

Solution :-

As we know that,

In CI we gets interest on interest .

Let us assume that, rate of interest is R% per annum .

Step-by-step explanation:

so,

→ First year interest = (1500 * R)/100 = 15R

now,

→ Amount after first year = (1500 + 15R)

then,

→ Interest of second year = {(1500 + 15R) * R/100}

A/q,

→ (1500R + 15R²/100) - 15R = 96

→ 15R² = 9600

→ R² = 640

→ R ≈ 25.30% . (Ans.) (D)

Answer 2

Answer:

answer 3

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