A) 5%
B) 5.5%
C) 6%
D) 6.5%
Correct Answer: A
Solution :
| According to the question, |
| \[A=P{{\left( 1+\frac{R}{100} \right)}^{T}}\]\[\Rightarrow \]\[\frac{1102.50}{1000}={{\left( 1+\frac{R}{100} \right)}^{2}}\] |
| \[\Rightarrow \]\[\frac{11025}{10000}={{\left( 1+\frac{R}{100} \right)}^{2}}\]\[\Rightarrow \]\[{{\left( \frac{105}{100} \right)}^{2}}={{\left( 1+\frac{R}{100} \right)}^{2}}\] |
| \[\Rightarrow \] \[1+\frac{R}{100}=\frac{105}{100}\]\[\Rightarrow \]\[\frac{R}{100}=\frac{5}{100}\] |
| \[\therefore \] \[R=5%\] |
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