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- List the given numbers and units.
- Choose the formula that matches the asked value.
- Simplify carefully and compare with options.
Correct Answer: B
Correct Answer: B
Method / Topic: Compound Interest
The answer follows from the arithmetic relation between the given values.
Short Explanation
Detailed Explanation
Correct Answer: B
Method / Topic: Compound Interest
Divide the amount by the principal to get 1.21. Since 1.21=(1+r)², taking the square root gives 1+r=1.1 and r=10 percent.
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Learn + Solve: Shortcut, Trap & Fast Route Click to view shortcut, steps, and common mistake
Shortcut used, common trap, and the fastest solving route
- List the given numbers and units.
- Choose the formula that matches the asked value.
- Simplify carefully and compare with options.
A sum becomes Rs. 12100 in 2 years at compound interest, compounded annually. If the principal was Rs. 10000, what was the annual rate?
Explanation
Correct Answer: B
Method / Topic: Compound Interest
The answer follows from the arithmetic relation between the given values.
Short Explanation
Detailed Explanation
Correct Answer: B
Method / Topic: Compound Interest
Divide the amount by the principal to get 1.21. Since 1.21=(1+r)², taking the square root gives 1+r=1.1 and r=10 percent.
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