Question
Download Solution PDFBy compounding annually, the compound interest on a sum of Rs. 4,900 in 2 years is Rs. 725. What is the rate of interest per annum?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven data: Principal = Rs. 4,900, Compound Interest = Rs. 725, Time = 2 years
Concept: Compound Interest is calculated using the formula: A = P(1 + r/100)t.
Solution:
Amount after 2 years = Principal + Interest = Rs. 4900 + Rs. 725 = Rs. 5625
Rate = [(5625/4900)(1/2) - 1] × 100 =
Therefore, the rate of interest per annum is
Last updated on Jul 8, 2025
-> The Staff Selection Commission released the SSC GD 2025 Answer Key on 26th June 2025 on the official website.
-> The SSC GD Notification 2026 will be released in October 2025 and the exam will be scheduled in the month of January and February 2026.
-> Now the total number of vacancy is 53,690. Previously, SSC GD 2025 Notification was released for 39481 Vacancies.
-> The selection process includes CBT, PET/PST, Medical Examination, and Document Verification.
-> The candidates who will be appearing for the 2026 cycle in the exam must attempt the SSC GD Constable Previous Year Papers. Also, attempt SSC GD Constable Mock Tests.