Question

UNIT-III
4. At what rate of compound interest per annum will 2,550 ₹ become 2952 in a year? (7)
प्रति वर्ष चक्रवृद्धि ब्याज की दर 2,550 compound एक वर्ष में 2952 हो
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Answer 1

Given :- At what rate of compound interest per annum will 2,550 ₹ become 2952 in a year ?

Answer :-

we know that,

• In first year both simple interest and compound interest are same .

so,

→ SI = A - P = 2952 - 2550 = Rs.402 .

then,

→ Rate = (SI * 100) / (P * T)

→ Rate = (402 * 100) / (2550 * 1)

→ Rate = (4020/255)

→ Rate ≈ 15.76% (Ans.)

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