UP Police Constable Exam Model Paper 4

Given:
The amount for 2 years = Rs. 12000
The amount for 3 years = Rs. 16000
Time = 2 years
Time = 3 years
Formula Used:
C.I = A - P
A = P(1 + R/100)${}^{\mathrm{T}}$
Calculation:
Let the principal be P
Substituting the values in the formula
12000 = P(1 + R/100)${}^2$ ----(i)
16000 = P(1 + R/100)${}^3$ ----(ii)
Dividing the equation (ii) by (i)
16000/12000 = P(1 + R/100)${}^3$/P(1 + R/100)${}^2$
4/3 = (1 + R/100) ----(iii)
{(4/3) - 1} × 100 = R
R = 100/3 = 33.33%
∴ The rate of interest is 33.33%