NIFT UG 2013 Question Paper with solutions

Question : 34 of 150

Marks: +1, -0

A sum of money amounts to ₹6272 in 2 yrs and ₹7024.64 in 3 yrs. The rate of interest per annum is

Solution:

Let sum of money = P
According to the question,

{P×5×10}/100-{P×4×10}/100=220

P/10=220

P=₹2200

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