A) 9
B) 10
C) \[\frac{21}{2}\]
D) 11
Correct Answer: B
Solution :
Given, Sum \[(P)=Rs.100,\] Amount due \[(A)=Rs.121,\], Time \[(n)=2\]years, Rate \[(r)=?\] We know \[A=P\left( 1+\frac{r}{100} \right)\] \[\therefore \] \[121=100{{\left( 1+\frac{r}{100} \right)}^{2}}\] or \[{{\left( 1+\frac{r}{100} \right)}^{2}}=\frac{121}{100}\] or \[1+\frac{r}{100}=\frac{11}{10}=1+\frac{1}{10}=1+\frac{10}{100}\] \[\therefore \] \[r=10%\]
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