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At what rate percent per annum will ₹ 2304 amount to ₹ 2500 in 2 years at compound interest ?
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4 1 % 2 -
4 1 % 5 -
4 1 % 6 -
4 1 % 3
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Correct Option: C
Let the rate percent per annum be r.
Given that , P = ₹ 2304 , A = ₹ 2500 , n = 2 years
Using the given formula ,
| A = P |  | 1 + |  | n | |
| 100 |
| 2500 = 2304 | | 1 + | | 2 | |
| 100 |
| ⇒ | | 1 + | | 2 | = | = | | | 2 | |||
| 100 | 2304 | 48 |
| ⇒ 1 + | = | = | |||
| 100 | 48 | 24 |
| ⇒ | = | − 1 = | |||
| 100 | 24 | 24 |
| ⇒ r = | = | = 4 | % | |||
| 24 | 6 | 6 |
