Q. At what rate per cent per annum will Rs. 2304 amount to Rs. 2500 in 2 years at compound interest?
Answer: $latex 4\frac{1}{6}\%&s=1$
Notes: Let the rate per cent per annum be r. Then,
$latex 2500 = 2304 \left ( 1 + \frac{r}{100} \right )^{2}&s=2$
$latex => \left ( 1 + \frac{r}{100} \right )^{2} = \frac{2500}{2304} = \left ( \frac{50}{48} \right )^{2}&s=2$
$latex => 1+\frac{r}{100} = \frac{50}{48} = \frac{25}{24}&s=2$
$latex => \frac{r}{100} = \frac{25}{24} - 1 = \frac{1}{24}&s=2$
$latex => r = \frac{100}{24} = \frac{25}{6} = 4\frac{1}{6}\%&s=2$
Hence option [C] is the right ansewr.