If ₹5000 amounts to ₹6050 over 2 years with compound interest, what is the annual interest rate?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 10%.
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⇒ R = 10%
SSC CGL - 17 Sep 2025 - Shift 2 • Quantitative Aptitude • Q69
If ₹5000 amounts to ₹6050 over 2 years with compound interest, what is the annual interest rate?
Correct answer: A
Explanation
The correct answer is option 1 i.e. 10%.
⇒
⇒
⇒
⇒
⇒ R = 10%