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A sum of money is invested in a scheme for 2 years at r% p.a. compounding annually. If the interest obtained is 36% of the amount obtained, what is the value of r?
- a)25
- b)20
- c)16.67
- d)10
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
A sum of money is invested in a scheme for 2 years at r% p.a. compound...
Principal : Interest : Amount = 64 : 36 : 100
R = 25
Hence, Option A is correct.
R = 25
Hence, Option A is correct.
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A sum of money is invested in a scheme for 2 years at r% p.a. compound...
Given:
Amount of interest = 36% of the amount invested
Time period = 2 years
Interest is compounded annually
To Find:
Rate of interest (r)
Let's assume:
Principal amount = P
Calculations:
Amount after 2 years:
Amount = P(1 + r/100)^2
Interest obtained after 2 years:
Interest = Amount - Principal
Interest = P(1 + r/100)^2 - P
Interest = P[(1 + r/100)^2 - 1]
Given that the interest obtained is 36% of the amount obtained:
P[(1 + r/100)^2 - 1] = 0.36P(1 + r/100)^2
Simplify the equation:
(1 + r/100)^2 - 1 = 0.36(1 + r/100)^2
1 + r/100 - 1 = 0.36(1 + r/100)
r/100 = 0.36
r = 36
Therefore, the value of r is 36%, which is option A.
Amount of interest = 36% of the amount invested
Time period = 2 years
Interest is compounded annually
To Find:
Rate of interest (r)
Let's assume:
Principal amount = P
Calculations:
Amount after 2 years:
Amount = P(1 + r/100)^2
Interest obtained after 2 years:
Interest = Amount - Principal
Interest = P(1 + r/100)^2 - P
Interest = P[(1 + r/100)^2 - 1]
Given that the interest obtained is 36% of the amount obtained:
P[(1 + r/100)^2 - 1] = 0.36P(1 + r/100)^2
Simplify the equation:
(1 + r/100)^2 - 1 = 0.36(1 + r/100)^2
1 + r/100 - 1 = 0.36(1 + r/100)
r/100 = 0.36
r = 36
Therefore, the value of r is 36%, which is option A.
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A sum of money is invested in a scheme for 2 years at r% p.a. compounding annually. If the interest obtained is 36% of the amount obtained, what is the value of r?a)25b)20c)16.67d)10Correct answer is option 'A'. Can you explain this answer?
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