A four year Indira Vikas certificate with a maturity value of Rs. 700 is purcahsed for Rs. 500. The rate $%$ p.a. is :

9 \frac{1}{11} %

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10 %

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11 %

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21 \frac{9}{11} %

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Solution

The correct option is D $10 %$
Interest $= 200..... (700 - 500 = 200)$

$S I = \frac{P \times N \times R}{100}$

$200 = \frac{500 \times R \times 4}{100} ⟹ R = 10 %$

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A four year Indira Vikas certificate with a maturity value of Rs. 700 is purcahsed for Rs. 500. The rate % p.a. is :

The correct option is D 10%Interest =200.....(700−500=200)SI=P×N×R100200=500×R×4100⟹R=10%

A four year Indira Vikas certificate with a maturity value of Rs. 700 is purcahsed for Rs. 500. The rate $%$ p.a. is :

The correct option is D $10 %$
Interest $= 200..... (700 - 500 = 200)$

$S I = \frac{P \times N \times R}{100}$

$200 = \frac{500 \times R \times 4}{100} ⟹ R = 10 %$