A) 25%
B) 22%
C) 21%
D) 20%
Correct Answer: D
Solution :
| [d] Let r be the rate of interest, P be the principal A = 1.44P be the amount and t = 2 yr be the time. Then, by formula we have \[A=P{{\left( 1+\frac{r}{100} \right)}^{n}}\] \[1.44\,P=P{{\left( 1+\frac{r}{100} \right)}^{2}}\] \[\frac{144}{100}={{\left( 1+\frac{r}{100} \right)}^{2}}\] \[{{\left( \frac{12}{10} \right)}^{2}}={{\left( 1+\frac{r}{100} \right)}^{2}}\] \[\frac{r}{100}=\frac{12}{10}-1\] \[\frac{r}{100}=\frac{2}{10}\]\[\Rightarrow \]\[r=20%\] |
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