At what rate per cent per annum will a sum of Rs 500 amount to Rs 8427

1.	At what rate per cent per annum will a sum of Rs 500 amount to Rs 8427 in 2 years, compounded annually? (a) 4 % (b) 5 % (c) 6 % (d) 8 %
Answer» ANSWER: Correct OPTION is C 6% We have, P=7500 Rs A=8427 Rs T=2 years A=P(1+100R)T 7500+8427=7500(1+100R)T 75008427=(1+100R)2 (1+100R)=25002809=(5053) (1+100R)=5053−1 100R=5053−1 R=503 R %=6 % Hence 6% ( C) is correct ANS

At what rate per cent per annum will a sum of Rs 500 amount to Rs 8427 in 2 years, compounded annually? (a) 4 % (b) 5 % (c) 6 % (d) 8 %

Answer»

ANSWER:

Correct OPTION is

We have,

P=7500 Rs

A=8427 Rs

T=2 years

A=P(1+100R)T

7500+8427=7500(1+100R)T

75008427=(1+100R)2

(1+100R)=25002809=(5053)

(1+100R)=5053−1

100R=5053−1

R=503

R %=6 %

Hence 6% ( C) is correct ANS

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At what rate per cent per annum will a sum of Rs 500 amount to Rs 8427 in 2 years, compounded annually? (a) 4 % (b) 5 % (c) 6 % (d) 8 %

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