a) 6%
b) 7%
c) 3%
d) 5%
Answer: d
Explanation:
$$\eqalign{
& {\text{Principal = Rs 8000}} \cr
& {\text{Amount = Rs 8820}} \cr
& {\text{Let Rate = }}R \cr
& {\text{Time = 2 years}} \cr
& {\text{By using formula, }} \cr
& 8820 = 8000{\left( {1 + \frac{R}{{100}}} \right)^2} \cr
& \frac{{8820}}{{8000}} = {\left( {1 + \frac{R}{{100}}} \right)^2} \cr
& \frac{{441}}{{400}} = {\left( {1 + \frac{R}{{100}}} \right)^2} \cr
& {\text{Taking square root of both sides,}} \cr
& \frac{{21}}{{20}} = \left( {1 + \frac{R}{{100}}} \right) \cr
& R = 5\% \cr} $$
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