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6.Interest
medium
What sum of money (In ₹) at compound interest will amount to ₹ $650$ at the end of the first year and ₹ $676$ at the end of the second year?
A
$825$
B
$925$
C
$625$
D
None of these
Solution
(c) Here, $x=650, y=676, A=1$ and $B=2$
$\therefore$ Rate of interest $(R)=\left[\left(\frac{y}{x}\right)^{1 / B-A}-1\right] \times 100 \%$
$=\left[\frac{676}{650}-1\right] \times 100 \%$
$=\frac{26}{650} \times 100 \%=4 \%$
$\therefore \quad 650=P\left(1+\frac{4}{100}\right) \Rightarrow P=\frac{650 \times 25}{26}=₹ 625$
Standard 13
Quantitative Aptitude
