A) 4%
B) 6%
C) 8%
D) 10%
Correct Answer: C
Solution :
Let the principal be Rs. x and rate of interest be r% annum. |
Now, \[\text{SI=}\frac{\text{Principal}\,\,\text{ }\!\!\times\!\!\text{ }\,\,\text{Time}\,\,\text{ }\!\!\times\!\!\text{ }\,\,\text{Rate}}{\text{100}}\] |
\[260=\frac{x\times r}{100}\] ?(i) |
\[\text{CI=P}\left[ {{\left( 1+\frac{R}{100} \right)}^{T}}-1 \right]\] |
\[540.80=x\left[ {{\left( 1+\frac{r}{100} \right)}^{2}}-1 \right]\] |
\[\Rightarrow \] \[540.80=x\left[ 1+\frac{2r}{100}+\frac{{{r}^{2}}}{10000}-1 \right]\] |
\[\Rightarrow \] \[540.80=\frac{2xr}{100}+\frac{\pi {{r}^{2}}}{1000}\] |
\[\Rightarrow \] \[540.80=2\times 260+\frac{260\,r}{100}\] |
\[\Rightarrow \] \[260\,r=54080-52000\] |
\[\Rightarrow \] \[260\,r=2080\] |
\[\therefore \] \[r=\frac{2080}{260}=8%\] |
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