A) 8% per annum
B) 5% per annum
C) 4% per annum
D) Data inadequate
Correct Answer: B
Solution :
Given that, \[A\,\text{=}\,\,\text{Rs}\text{.}\,16000,\] \[\text{ }A=Rs.17640,\] \[n=2yr\] \[\therefore \] \[A=P{{\left( 1+\frac{r}{100} \right)}^{n}}\] \[\Rightarrow \] \[\frac{17640}{16000}={{\left( 1+\frac{r}{100} \right)}^{2}}\] \[\Rightarrow \] \[\frac{441}{400}={{\left( 1+\frac{2}{100} \right)}^{2}}\] \[\Rightarrow \] \[{{\left( \frac{21}{20} \right)}^{2}}={{\left( 1+\frac{r}{100} \right)}^{2}}\] \[\Rightarrow \] \[\frac{r}{100}=\frac{1}{20}\] \[\Rightarrow \] \[r=5%\]
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