aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
Multiple choice

At what rate will a sum of Rs. 1000 amounts to Rs. 1102.50 in 2 years at compound interest?

  1. 6.25%

  2. 10%

  3. 5%

  4. 4.25%

  5. 8%

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Using A = P(1 + r/100)²: 1102.50 = 1000(1 + r/100)². This gives 1.1025 = (1 + r/100)². Taking square root: 1.05 = 1 + r/100, so r/100 = 0.05, r = 5%. Check: 1000 × 1.05² = 1000 × 1.1025 = 1102.50.

Keep practicing — related questions

  • Which of the following is rate of interest given to Radha, if she receives the maturity amount of Rs. 6,455...
  • Deepak opened a recurring deposit account in a bank and deposited Rs. 500 per month for 3 years. If he will...
  • Rohit opened a recurring deposit account in the bank by depositing Rs. 250 per month for 11 months. The rat...
  • What is the total amount required to buy 150 shares, if the face value of the share is Rs. 45 and rate of p...
  • A man sells his car for Rs. 3 lakh and loses some amount. Had he sold it for Rs. 5.60 lakh, his gain would ...
  • COGS = Rs. 2,00,000, Gross loss = Rs. 40,000, Operating expenses = Rs. 30,000 Calculate net sales.
  • Furniture costing Rs. 20,000 is sold at a profit of Rs. 2,000 for cash. It will result in
  • Calculate the payback period, if a project requires Rs. 1,00,000 as initial investment and it generates a c...

Practice this chapter

  • Simple and Compound Interest (3394 questions)
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy