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Q.

In a factory, if the production of scooters rose to 48400 from 40000 in 2 years, then the rate of growth per annum is:


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a

8

b

10

c

20

d

30 

answer is B.

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Detailed Solution

Concept- The basic formula of Compound Interest is Question ImageWhere,
A = Final Amount i.e., (Principle + Interest),
P = Principle on which Interest in compounded,
R = Rate of Compound Interest per annum,
N = Time period of interest.
We will have to form linear equations in a single variable, “R” by substituting the values from the data provided in theQuestion statement in the above-mentioned formula and then, solving for “R” will give us our desired answer.
Given, production of scooters rose to 48400 from 40000 in 2 years, i.e.,
(A = 48400), (P = 40000), (n = 2)
Using the values of A, P and n, in the formula of compound interest, we get,
Question ImageHence, the correct answer is 2.
 
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