A) 5%
B) 10%
C) 15%
D) 20%
Correct Answer: B
Solution :
Let the rate of interest per annum be R% and principal amount be Rs. P, then Amount in 2 yr, \[P{{\left( 1+\frac{R}{100} \right)}^{2}}=9680\] ?(i) and amount in 3 yr, \[P{{\left( 1+\frac{R}{100} \right)}^{3}}=10648\] ?(ii) Dividing Eq. (ii) by Eq. (i), \[1+\frac{R}{100}=\frac{10648}{9680}\] \[\Rightarrow \] \[R=\left( \frac{10648}{9680}-1 \right)\times 100\] \[\therefore \] \[R=\frac{968}{9680}\times 100=10%\]You need to login to perform this action.
You will be redirected in
3 sec