Arithmetic Ability
Compound Interest

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Q.

Sonika invested an amount of Rs.5800 for 2 years. At what rate of compound interest will she get an amount of Rs.594.50 at the end of 2 years ?

View Answer

Correct choice: C

Explanation:

C.I = P[(1+r/100)t−1] 594.5 = 5800[(1+r/100)2−1] 594.55800+1=(1+r/100)2 r/100=1.05−1=0.05=> r = 5 % .
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