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MHT CET · Maths · Differential Equations

In a bank, the principal increases continuously at a rate of \(x \%\) per year. Then the rate, \(x\), if ₹100 double itself in 10 years, is
\((\log 2=0.6931)\)

  1. A \(6.93 \%\)
  2. B \(9 \cdot 63 \%\)
  3. C \(6.09 \%\)
  4. D \(3.69 \%\)
Verified Solution

Answer & Solution

Correct Answer

(A) \(6.93 \%\)

Step-by-step Solution

Detailed explanation

\(A = P e^{rt}\) \(2P = P e^{(x/100) \cdot 10}\)