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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