At what rate will an amount 7/4 of itself in 4 year
A. 20% per annum
B. 18% per annum
C. 18 3/4% per anum
D. none of these
Answer: Option D
Solution(By Examveda Team)
Let sum is Rs. 100 ,then it become 7/4 times i.e. Rs. 700/4 in 6 years.Interest = (700/4)-100 = Rs. 300/4;
Hence, Rate = Total interest/ given time = 300/4*6 = 12(1/2)%.
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