A certain sum amounts to ₹4,620
A certain sum amounts to ₹4,620 after two years at a certain rate of simple interest and to ₹4,725 after two and a half years at the same rate. Find the annual percentage rate.
एक निश्चित राशि साधारण ब्याज की एक निश्चित दर पर दो वर्ष बाद ₹4,620 हो जाती है और समान दर पर ढाई वर्ष बाद ₹4,725 हो जाती है। वार्षिक प्रतिशत दर ज्ञात कीजिए।
Detailed Solution & Logic
Correct Answer:
5%
Amount after 2 years = 4620
Amount after 2.5 years = 4725
Interest for 0.5 year = 4725 - 4620 = 105
Interest for 1 year = $ 105 \times 2 = 210 $
Interest for 2 years = $ 210 \times 2 = 420 $
Principal P = 4620 - 420 = 4200
Rate R = $ \frac{\text{SI} \times 100}{P \times T} $
$ = \frac{420 \times 100}{4200 \times 2} $
Answer: 5%
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