NIACL Model Paper 5 with solutions for free online practice

Since, the interest obtained ₹3895.68 is around 26% of the sum ₹15000, the rate of interest must be slightly less than (26÷3), i.e., 8.6 (approx). Hence, reject the options (2), (3) and (4).
Now, check (1).
$1500\times {\left[1+\frac{8}{100}\right]}^3=15000\times {\left[\frac{108}{100}\right]}^3=18895.68$
Now, $18895.68-15000\mathit{₹}3895.68$ Here,
$15000{\left[1+\frac{\mathit{r}}{100}\right]}^3=15000+3895.68$
$\therefore {\left[1+\frac{\mathit{r}}{100}\right]}^3=\frac{18895.68}{15000}$
$1+\frac{\mathit{r}}{100}=\frac{108}{100}\Rightarrow \mathit{r}=8\%$