Question 139

At what rate per cent per annum will a sum of Rs. 1,000 amount to Rs. 1,102.50 in 2 years at compound interest ?

Solution

Share

Let's say rate is r
hence $$1000\times(1+\frac{r}{100})^{2}$$ = 1102.5
now on solving the we will get r = 5

Was this solution helpful?

Get AI Help

View More Questions From Profit, Loss, and Interest

Create a FREE account and get:

  • Free SSC Study Material - 18000 Questions
  • 230+ SSC previous papers with solutions PDF
  • 100+ SSC Online Tests for Free

Free SSC Quant Questions

SSC Data InterpretationSSC GeometrySSC Linear EquationsSSC Number SystemsSSC Quadratic EquationsSSC TrigonometrySSC AgesSSC Arithmetic

Join CAT 2026 course by 5-Time CAT 100%iler

Start your IIM journey with the right preparation and crack CAT 2026.

Enroll Now
Ask AI