At what rate percent per annum will a sum of Rs...

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At what rate percent per annum will a sum of Rs. 15,625 amount to Rs. 21,952 in three years, if the interest is compounded annually?

A. 12%

B. 8%

C. 9%

D. 10%

Answer: Option A

Solution (By Examveda Team)

$$\eqalign{ & 15625:21952 \to {\text{in three years}} \cr & \root 3 \of {15625} :\root 3 \of {21952} \to {\text{in one year}} \cr} $$
Compound Interest mcq question image

$${\text{Rate}} = \frac{3}{{25}} \times 100 = 12\% $$

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