If the total cycle growth in 2 years of Rs. 400 is Rs. 441, what is the annual rate of interest rate
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Answer:
Correct Answer:
A) RS.484
Description for Correct answer:
According to the given conditign
441=400(1+R100)2
=> 441400= (1+R100)2
=> (2120)2=(1+R100)2
=> 2120=1+R100
=> 2120−1=R100 => R100=120
R=5%
New rate = 5+5=10%
Amount=400(1+10100)2
=400×11/10×11/10=RS.484
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