1. If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 25088, and Rs 28098.56 respectively, what is the rate of interest?
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By: anil on 05 May 2019 02.11 am
Compound interest at the end of 2nd year = Rs. 25,088 Compound interest at the end of 3rd year = Rs. 28,098.56 => Difference = 28098.56 - 25088 = Rs. 3010.56 This is the interest obtained on the amount of 2nd year. $$ herefore$$ Rate of interest, $$r = frac{3010.56}{25088} imes 100 = 12 \%$$ => Ans - (C)
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