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    Question

    Invest Rs. 1,800 at an annual compound interest rate of 'R%.' After two years, the interest accrued is Rs. 792. Determine the rate 'R.'

    A 25 Correct Answer Incorrect Answer
    B 20 Correct Answer Incorrect Answer
    C 12.5 Correct Answer Incorrect Answer
    D 15 Correct Answer Incorrect Answer
    E 18 Correct Answer Incorrect Answer

    Solution

    Or, 792 = 1800 × [{1 + (R/100)}2 – 1] Or, [{1 + (R/100)}2 – 1] = (792/1800) Or, (2592/1800) = {1 + (R/100)}2 Or, 1 + (R/100) = 1.2 So, R = 20

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