1). 5%2). 8%3). 10%4). 15%

1.	1). 5%2). 8%3). 10%4). 15%
Answer» On a sum of RS. P at a rate of R% per ANNUM, Compound interest after n years = P[(1 + R/100)ⁿ - 1] On a sum of Rs. 62400, CI after 2 years = 62400[(1 + R/100)² - 1] ⇒ 20124 = 62400[(1 + R/100)² - 1] ⇒ 0.3225 = (1 + R/100)² - 1 ⇒ 1.3225 = (1 + R/100)² ⇒ 1.15 = 1 + R/100 ⇒ R/100 = 1.15 - 1 = 0.15 ⇒ R = 100 × 0.15 = 15%

Answer»

On a sum of RS. P at a rate of R% per ANNUM,

Compound interest after n years = P[(1 + R/100)ⁿ - 1]

On a sum of Rs. 62400,

CI after 2 years = 62400[(1 + R/100)² - 1]

⇒ 20124 = 62400[(1 + R/100)² - 1]

⇒ 0.3225 = (1 + R/100)² - 1

⇒ 1.3225 = (1 + R/100)²

⇒ 1.15 = 1 + R/100

⇒ R/100 = 1.15 - 1 = 0.15

⇒ R = 100 × 0.15 = 15%

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