A) 5%
B) 6%
C) 10%
D) 12%
Correct Answer: A
Solution :
We know that a certain sum of money invested at compound interest, compounded annually, becomes \[Rs.\,{{A}_{1}}\] in n yr and \[Rs.\,{{A}_{2}}\] in \[(n+1)yr\] Then, rate of interest, \[r=\frac{100({{A}_{2}}-{{A}_{1}})}{{{A}_{1}}}\] per annum. Here, \[{{A}_{1}}=Rs.2400,\] \[n=3\,yr\] and \[{{A}_{2}}=Rs.\,2520\] and \[{{r}_{2}}=4\,yr\] \[\therefore \] Rate of interest \[\frac{=100(2520-2400)}{2400}%=5%\]You need to login to perform this action.
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