ExamVeda
Login
Home

The compound interest on a certain sum for 2 successive years...

This question belongs to Arithmetic Ability Compound Interest
Compound Interest
?

The compound interest on a certain sum for 2 successive years are Rs. 225 and Rs. 238.50. The rate of interest per annum is = ?

Answer & Solution
Correct Answer: Option D
$$\eqalign{ & {\text{Required rate }}\% \cr & {\text{ = }}\frac{{\left( {238.50 - 225} \right)}}{{225}} \times 100 \cr & = 6\,\% \cr} $$
Examveda
Question posted by Examveda
Community

Join the Discussion

No comments yet Be the first to discuss this question.
Keep Learning

Related Questions on Compound Interest

A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:
A. Rs. 120 B. Rs. 121 C. Rs. 122 D. Rs. 123 E. None of these
The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Rs. 1. The sum (in Rs.) is:
A. 625 B. 630 C. 640 D. 650 E. None of these
There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?
A. Rs. 2160 B. Rs. 3120 C. Rs. 3972 D. Rs. 6240 E. None of these
What is the difference between the compound interests on Rs. 5000 for $$1\frac{1}{2}$$ years at 4% per annum compounded yearly and half-yearly?
A. Rs. 2.04 B. Rs. 3.06 C. Rs. 4.80 D. Rs. 8.30
More Related Questions on Compound Interest