Subject
Quantitative Aptitude
Topic
Interest
At what rate of compound interest per annum will a sum of Tk. 1200 become Tk. 32 in 2 years?
At what rate of compound interest per annum will a sum of Tk. 1200 become Tk. 32 in 2 years?
ক)
6%খ)
6.5%গ)
7%ঘ)
7.5%Explanation
Let the rate be R% p.a. Then, 1200×(1+R/100)2 = 1348.32 => (1+R/100)2 = 134832/120000=11236/10000 Therefore, {1+R/100}2 = (106/100)2 => 1+R/100 = 106/100 => R = 6%Related questions
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