1. If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 16854, and Rs 17865.24 respectively, what is the rate of interest?
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By: anil on 05 May 2019 02.12 am
Compound interest at the end of 2nd year = Rs. 16,854 Compound interest at the end of 3rd year = Rs. 17,865.24 => Difference = 17865.24 - 16854 = Rs. 1011.24 This is the interest obtained on the amount of 2nd year. $$ herefore$$ Rate of interest, $$r = frac{1011.24}{16854} imes 100 = 6 \%$$ => Ans - (C)
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