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vishnu

· started a discussion

· 1 Months ago

Q. 57 (Question: 98806.0 )

another way to solve it

Question:
At what rate per cent at compound interest does a sum of money becomes nine-fold in 2 years?
Options:
A) 200%
B) 210%
C) 220%
D) 230%
E) None of these
Solution:
Ans: (a) Let the sum be Rs. x and the rate of compound interest be r% per annum; then

\(9x = x\left ( 1+\cfrac {r}{100} \right )^2\)

Or, \(9=\left ( 1+\cfrac {r}{100} \right )^2\)

Or, \(3 = 1+\cfrac{r}{100} ;\)

Or, 

\(\cfrac{r}{100} =2\)

∴ r = 200%

Other method:


\(1 ×\left ( 1+\cfrac {r}{100} \right )^2=9\)

\(\left ( 1+\cfrac {r}{100} \right )^2=9\)

\(\cfrac{r}{100}=3-1\)

r = 200%

Knowledge Expert

· commented

· 1 Months ago

That's a formula based problem. Explanation has been provided to you.
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