Question

At what rate percent per annum C.I will ₹ 2000 amount to ₹ 2662 in 3 years

• A. Rs.430
• B. Rs.432
• C. Rs.442
• D. Rs.452

Answer 1

The correct option is B

Rs.432

Given that A = ₹ 2662 , P = ₹ 2000 and n = 3 years

Let the Rate of Interest be r

A=P ( 1+$\frac{r}{100}{)}^n$

2662 = 2000 ( 1+$\frac{r}{100}{)}^3$

$\frac{1331}{1000}$ = ( 1+$\frac{r}{100}{)}^3$

$(\frac{11}{10}{)}^3$ = ( 1+$\frac{r}{100}{)}^3$
$\left(\frac{11}{10}\right)$ = ( 1+$\frac{r}{100})$
$\left(\frac{11}{10}\right)$ = ( $\frac{100+r}{100})$
110 = 100 + r
r = 10 %