1. If the amount received at the end of 2nd and 3rd year at Compound Interest on a certain Principal is Rs 34992, and Rs 37791.36 respectively, what is the rate of interest?





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  • By: anil on 05 May 2019 02.14 am
    Compound interest at the end of 2nd year = Rs. 34,992 Compound interest at the end of 3rd year = Rs. 37,791.36 => Difference = 37791.36 - 34992 = Rs 2799.36 This is the interest obtained on the amount of 2nd year. $$ herefore$$ Rate of interest, $$r = frac{2799.36}{34992} imes 100 = 8 \%$$ => Ans - (C)
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