Compound Interest Practice Test 2

Question : 34 of 40

Marks: +1, -0

A sum of money is invested at compound interest payable annually. The interest in successive years was Rs 225 and Rs 238.50. Find the rate per cent per annum.

Validate

Solution:

A=P(1+r/100)^t

238.50=225(1+r/100)^1

238.50=225+{225r}/100

r=13.50×100/225=6%

Go to Question:

Prev Question

Next Question