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 = ?
A. $$7\frac{1}{2}$$%
B. 5%
C. 10%
D. 6%
Answer: Option D
Solution (By Examveda Team)
$$\eqalign{ & {\text{Required rate }}\% \cr & {\text{ = }}\frac{{\left( {238.50 - 225} \right)}}{{225}} \times 100 \cr & = 6\,\% \cr} $$This Question Belongs to Arithmetic Ability >> Compound Interest
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