1. If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 28090, and Rs 29775.4 respectively, what is the rate of interest?
Write Comment
Comments
By: anil on 05 May 2019 02.11 am
Compound interest at the end of 2nd year = Rs. 28,090 Compound interest at the end of 3rd year = Rs. 29,775.4 => Difference = 29775.4 - 28090 = Rs. 1685.4 This is the interest obtained on the amount of 2nd year. $$ herefore$$ Rate of interest, $$r = frac{1685.4}{28090} imes 100 = 6 \%$$ => Ans - (A)
Terms And Service:We do not guarantee the accuracy of available data ..We Provide Information On Public Data.. Please consult an expert before using this data for commercial or personal use