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Question

Rs. 2000 amounts to Rs. 2226.05 in two years at compound interest. The rate of interest is

A
5.0 per cent
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B
5.25 per cent
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C
5.5 per cent
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D
6.0 per cent
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Solution

The correct option is B 5.5 per cent

We know A=P[1+R100]n

2226.05=2000[1+R100]22226.052000=[1+R100]21.113025=[1+R100]21.055=[1+R100]1.055=100+R100105.5=100+RR=5.5%


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