Multiple choice

At what percent per annum will Rs. 2000/- amounts to Rs. 2420/- in 2 years if the interest is compounded annually? किस प्रतिशत वार्षिक ब्याज दर से रु 2000, 2 वर्षों में 2420 रु हो जाएगा यदि ब्याज चक्रवृद्धि वार्षिक हो ?

  1. 20 %

  2. 15 %

  3. 10 %

  4. 9 %
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Using compound interest formula A = P(1+r)^t: 2000(1+r)^2 = 2420. Solving gives (1+r)^2 = 1.21, so 1+r = 1.1, hence r = 10% per annum.

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