Question

Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest ?
A) 20% p.a
B) 15% p.a
C) 18% p.a
D) 24% p.a

Answer 1

4

Q:

Compound interest earned on a sum for the second and the third years are Rs.1200 and Rs.1440 respectively. Find the rate of interest ?

A) 20% p.aB) 15% p.aC) 18% p.aD) 24% p.a

Answer:   A) 20% p.a 

Explanation:

Rs.1440 - 1200 = Rs.240 is the interest on Rs.1200 for one year.

Rate of interest = (100 x 240) / (1200) = 20% p.a

Answer 2

Hey mate ^_^

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Answer:
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$Interest$

$= Rs.1440 - Rs. 1200$

$= Rs.240$

Therefore,

$Rs.240$ is the interest on $Rs.1200$ for one year.

Rate of interest

$= \frac{(100 \times 240)}{1200}$

$= 20\% \: p.a.$

Therefore,

Correct option A) 20%

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