Class 8 Exam > Class 8 Questions > A sum of money, at compound interest, yields ...
Start Learning for Free
A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?
- a)20%
- b)15%
- c)10%
- d)5%
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at th...
Step-by-step explanation:Step 1: Given DataLet r b
e rate of interestP is initial sumCompound Interest of first year is Rs 200Second year is Rs.220Step
Most Upvoted Answer
A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at th...
To find the rate percent, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
where:
A = final amount
P = principal amount (initial sum of money)
r = annual interest rate (in decimal form)
n = number of times interest is compounded per year
t = number of years
Let's solve the problem step by step.
Step 1: Calculate the principal amount.
We are given that the sum of money yields Rs. 200 at the end of the first year. This means that the principal amount after one year is Rs. 200. Let's denote this as P.
Step 2: Calculate the interest rate.
We know that the sum of money yields Rs. 220 at the end of the second year. This means that the final amount after two years is Rs. 220. Let's denote this as A.
Step 3: Calculate the compound interest.
Using the formula for compound interest, we can rearrange it to solve for the interest rate (r):
A = P(1 + r/n)^(nt)
Rearranging the formula:
(1 + r/n)^(nt) = A/P
Substituting the given values:
(1 + r/1)^(1*1) = 220/200
Simplifying the equation:
(1 + r) = 11/10
Subtracting 1 from both sides:
r = 11/10 - 1
r = 1/10
Step 4: Convert the interest rate to a percentage.
To convert the interest rate to a percentage, we multiply it by 100:
r (in decimal form) = 1/10
r (in percentage form) = (1/10) * 100
r = 10%
Therefore, the rate percent is 10%, which corresponds to option C.
A = P(1 + r/n)^(nt)
where:
A = final amount
P = principal amount (initial sum of money)
r = annual interest rate (in decimal form)
n = number of times interest is compounded per year
t = number of years
Let's solve the problem step by step.
Step 1: Calculate the principal amount.
We are given that the sum of money yields Rs. 200 at the end of the first year. This means that the principal amount after one year is Rs. 200. Let's denote this as P.
Step 2: Calculate the interest rate.
We know that the sum of money yields Rs. 220 at the end of the second year. This means that the final amount after two years is Rs. 220. Let's denote this as A.
Step 3: Calculate the compound interest.
Using the formula for compound interest, we can rearrange it to solve for the interest rate (r):
A = P(1 + r/n)^(nt)
Rearranging the formula:
(1 + r/n)^(nt) = A/P
Substituting the given values:
(1 + r/1)^(1*1) = 220/200
Simplifying the equation:
(1 + r) = 11/10
Subtracting 1 from both sides:
r = 11/10 - 1
r = 1/10
Step 4: Convert the interest rate to a percentage.
To convert the interest rate to a percentage, we multiply it by 100:
r (in decimal form) = 1/10
r (in percentage form) = (1/10) * 100
r = 10%
Therefore, the rate percent is 10%, which corresponds to option C.
Free Test
FREE
| Start Free Test |
Community Answer
A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at th...
20percent
Attention Class 8 Students!
To make sure you are not studying endlessly, EduRev has designed Class 8 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 8.
|
Explore Courses for Class 8 exam
|
|
Top Courses for Class 8View all
A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer?
Question Description
A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer?.
A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer?.
Solutions for A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 8.
Download more important topics, notes, lectures and mock test series for Class 8 Exam by signing up for free.
Here you can find the meaning of A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer?, a detailed solution for A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A sum of money, at compound interest, yields Rs. 200 and Rs. 220 at the end of first and second years respectively. What is the rate percent?a)20%b)15%c)10%d)5%Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice Class 8 tests.
|
|
Explore Courses for Class 8 exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup