CLEAR
Toprankers-Info

+91 7676564400

Mobile App

Get it on Google Play
Discussions
Select Date
Tags:

Articles

Discussions
Submit Discussion
Durga Pradhyumna

· started a discussion

· 1 Months ago

Incorrect answer (Question: 107627.0 )

It is 2.5%.

Rate of interest with CI=756 and SI=720 is 5%. Since CI-SI=36, which is interest on interest of 2nd year. So principal is 14400. And as given SI is 900 when R=T. Then R should be 2.5℅ to match the criteria.

Question:

The compound interest on a certain sum for 2 years is Rs.756 and SI (simple interest) is Rs.720. If the sum is invested such that the SI is Rs.900 and the number of years is equal to the rate percent per annum, find the rate percent.

Options:
A) 4
B) 5
C) 6
D) 10
Solution:
Ans: (b) Difference of C.I. for 2 years = 36

Hence Rs. 36 will be the interest on Rs. 360, then

\(\cfrac{36\times100}{360} = R \Rightarrow R\) = 10%

\(\therefore\) P = 3600

now, 

if r = t , SI = 900

then,

900 = \(\cfrac{3600\times r\times\ r }{100}\)

 

\(\Rightarrow\) r2 = 25


\(\Rightarrow\) r = 5%

Knowledge Expert

· commented

· 1 Months ago

Dear student
Given question and
solution both are correct.

Keep learning
Team TR
-logo
We at aim to provide most comprehensive content & test for practice which is carefully divided into various chapters and topics to help you focus on your weak areas.Our Practice mock test gives you unmatched analytics to help you realize your strong areas,time management and improvement areas.Our Short & Crisp notes on each topic will help you to quickly revise the topic along with the tips & tricks of the exams.
More About
-Info
-Info

Mobile App

Get it on Google Play
About Us Campus Ambassador Careers Contact Us Refund Policy

All Rights Reserved Top Rankers

User Policy
Disclaimer
Terms & Conditions