Home
Class 14
MATHS
Asum of ₹ 1,000 becomes ₹ 1,144.90 in 2 ...

Asum of ₹ 1,000 becomes ₹ 1,144.90 in 2 years. At whatrate is the interest is compounded annually?

A

`7%`

B

`5%`

C

`8%`

D

`6%`

Text Solution

Verified by Experts

The correct Answer is:
A
Promotional Banner

Similar Questions

Explore conceptually related problems

Asum of Rs 11700 becomes Rs 16848 in 2 years at the rate of compoundinterest. If the interest is compounded annually, then what will be the rate of interest?

A sum of money becomes 3 times in 10 years at the rate of compound interest (compounded annually). In how many years will it become 81 times?

A sum of Rs. 10500 becomes Rs. 17745 in 2 years at the rate of compound interest. If the interest is compounded annually then what will be the rate of interest?

A sum becomes 5 times of itself in 3 years at compound interest (interest is compounded annually). In how many years will the sum becomes 125 times of itself?

A sum of money amounted to ₹ 720 in 2 years and ₹ 792 in 3 years when interest is compounded annually. The annual rate of interest, (in %) is:

A sum of money becomes four times itself in 5 years at a certain rate of interest, compounded annually. In how many years will it become 16 times itself at the same rate of interest?

If Rs. 2500 becomes to Rs. 2970.25 in 2 years at compound interest compounded annually, what is the yearly rate of interest (in %) ?