Compound Interest Practice Test 4

Question : 7 of 40

Marks: +1, -0

The compound interest on a certain sumof two successive years are Rs 225 and Rs 238.50. The rate of interest per annum is:

Solution:

Amount = Rs 238.50; P = Rs 225; T = 1 year

238.50=225(1+R/100)^t

238.50=225+{225R}/100

R=13.50×100/225=6%

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