A) 5%
B) 6%
C) 10%
D) 15%
Correct Answer: C
Solution :
P = Rs. 20000, A = Rs. 24200, t = 2 yr \[\,\,20000\times {{\left( 1+\frac{R}{100} \right)}^{2}}=24200\] \[\Rightarrow \] \[{{\left( 1+\frac{R}{100} \right)}^{2}}=\frac{24200}{20000}=\frac{121}{100}={{\left( \frac{11}{10} \right)}^{2}}\] \[\Rightarrow \,\] \[1+\frac{R}{100}=\frac{11}{10}\Rightarrow \frac{R}{100}=\left( \frac{11}{10}-1 \right)=\frac{1}{10}\] \[\Rightarrow \,\] \[R=\left( 100\times \frac{1}{10} \right)%=10%\]
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