At what rate of CI per annum will Rs. 2304 amount to Rs... – Arithmetic

Arithmeticmedium · Past Paper

At what rate of CI per annum will Rs. 2304 amount to Rs. 2500 in 2 years?

A4%

B4 1/6 %

C5%

D6%

✓ Correct Answer: B — 4 1/6 %

(A/P) = (1 + R/100)^T => 2500/2304 = (1 + R/100)^2 => 50/48 = 1 + R/100 => R = 100/24 = 4.16%.

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