Question

Sonika invested an amount of Rs 5800 for 2 years. At what rate of compound interest will she get an amount of Rs 594.50 at the end of two years?

Options

• 5 pcpa

• 4 pcpa

• 6 pcpa

• 8 pcpa

• None of these

Answer 1

`6394.50/5800 = (1+R/100)` square

`441/400 = (1+R/100)` square

`(21/20) "square" = (1+R/100)` square

`21/20 = (1+R/100)`

R = 5