Given the following details of an account of Mr- Ashok- If he gets Rs- 83-75 as interest which is compounded annually on 31st Dec- find the rate of interest offered to him by the bank- Date Debit Credit Balance 1st Jan 12-000 1-200 7th Jan 500 1-700 17th Jan 400 1-300 10th Feb 800 2-100 25th Feb 500 1-600 20th Sept 700 2-300 21st Nov 600 1-700 5th Dec 300 2-000 A- 4-5 -B- 10 -C- 6 -D- 5-5 -E- 5 -

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Finding CI When Rate Compounded Anually or Semi - Anually

Given the fol...

Question

Given the following details of an account of Mr. Ashok. If he gets Rs. 83.75 as interest which is compounded annually on 31st Dec. find the rate of interest offered to him by the bank.

5.5 %

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4.5%

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10%

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Solution

The correct option is B
5%

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Given the following details of an account of Mr. Ashok. If he gets Rs. 83.75 as interest which is compounded annually on 31st Dec. find the rate of interest offered to him by the bank.

The correct option is B 5%

The correct option is B
5%