Correct option is A
Given:
Principal (P) = ₹17,280
Amount (A) = ₹23,520
Time (T) = 2 years
Interest is compounded annually.
Formula Used:
Amount compounded annually;
Amount =
Solution:
R = 16.67%
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Question
At what rate percentage per annum (correct to one place of decimal) will ₹17,280amount to ₹23,520 in 2 years, if the interest is compounded annually?
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Similar Questions
- 1)
Jaspreet deposited a sum of ₹28,450 at 20% rate of interest per annum, compounded annually. The total amount received by Jaspreet after 2 years is:
- 2)
The amount on a sum of ₹2,800 at the rate of 5% per annum compound interest, compounded annually, in 2 years will be:
- 3)
On an amount of ₹2,00,000, a bank gives ₹1,04,175 as interest in 3 years. If the interest is compounded annually, then what is the interest rate per annum?
- 4)
Ashish has Rs. 1218 with him. He invested money for Arun and Mahesh at 10% compound interest annually. Arun invested for 11 years and Mahesh for 12 years. Both got equal amounts. How much (in ₹) did Ashish give to Mahesh?
- 5)
Ashok has Rs. 1612 with him. He divided it amongst his sons Raj and Varun and asked them to invest it at 8% rate of interest compounded annually. It was seen that Raj and Varun got same amount after 16 and 17 years respectively. How much (in Rs. ) did Ashok give to Raj?
- 6)
Anand has Rs. 1218. He divided it between Anil and Ashok. They invest at 10% CI annually. After 15 and 16 years respectively, both get the same amount. How much did Ashok get?
- 7)
If the interest earned during the 2nd year on a certain sum is Rs. 5,520, and the rate of interest is 20% per annum compounded annually, then the sum is:
- 8)
Shan divides Rs. 1617 between Piyush and Manoj. They invest at 10% CI annually. After 11 and 12 years respectively, both get the same amount. How much did Piyush get?
- 9)
Mahesh has Rs. 1617 with him. He divided it amongst his sons Vijay and Ajay and asked them to invest it at 10% rate of interest compounded annually. It was seen that Vijay and Ajay got same amount after 19 and 20 years respectively. How much (in Rs. ) did Mahesh give to Vijay?
- 10)
Atul has two grandsons Baban and Rakesh. 11 year old Baban gets some money from Atul’s wealth and 12 year old Rakesh gets rest of the money. But Baban and Rakesh will get money only when they turn 24 years old. Till then the money is in a bank getting interest at rate 5% compounded annually. When both turn 24, they receive the same amount. How much had Atul given Rakesh (in Rs. ) initially, if total money with Atul was Rs. 24600?
