Deepak
Deepak
9 years ago

A certain sum is interested at compound. The interest occurred in the first two years is Rs. 272 and that in the First three years is Rs. 434. Find the rate %?

A. 33.33%

B. 25%

C. 12.5%

D. 16.67%

E. None of these

Solution(By Examveda Team)

For first two year interest =P[(1+R/100)^2-1]=272  -------------------- (1)
For first three year interest=P[(1+R/100)^3-1]=434  ------------------- (2)
On dividing Equation (1) by (2), we get


(1+R/100)^2-1/(1+R/100)^3-1=272/434


Let (1+R/100)=x ......(3)
(X^2-1)/(x^3-1)=136/217
(x+1)/(x^2+x+1)=136/217
136x^2-81x-81=0
After solving x will be 1.1248
By putting this value in eq (3) we get
R=12.48 approximately 12.50%.


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Comments ( 1 )

  1. Umesh
    Umesh :
    8 years ago

    16.67

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