A sum of money put at compound interest amounts in 2 years to Rs. 672 and in 3 years Rs. 714. The rate of interest per annum is = ?
A. 5.5%
B. 6.0%
C. 6.25%
D. 6.75%
Answer: Option C
Solution(By Examveda Team)
$$\eqalign{ & {\text{S}}{\text{.I}}{\text{. on Rs}}{\text{. 672 for 1 year}} \cr & {\text{ = Rs}}{\text{. }}\left( {714 - 672} \right) \cr & {\text{ = Rs}}{\text{. 42}} \cr & \therefore {\text{Rate = }}\left( {\frac{{100 \times 42}}{{672 \times 1}}} \right){\text{% }} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ = 6}}{\text{.25% }} \cr} $$Related Questions on Compound Interest
A. Rs. 120
B. Rs. 121
C. Rs. 122
D. Rs. 123
E. None of these
A. 625
B. 630
C. 640
D. 650
E. None of these
A. Rs. 2160
B. Rs. 3120
C. Rs. 3972
D. Rs. 6240
E. None of these
A. Rs. 2.04
B. Rs. 3.06
C. Rs. 4.80
D. Rs. 8.30
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