Question

If the amount received at the end of 2nd and 3rd year at compound interest on a certain Principal is Rs 30250, and Rs 33275 respectively, what is the rate of interest?

A) 10 percent B) 5 percent C) 20 percent D) 16 percent

Answer 1

Amountafter 3-years =Rs.28098.56

Amont after 2-years =Rs.25088.00

So interest for Rs. 25088 for 1- year = Rs.(28098.56–25088.00)

= Rs.3010.56

So rate of interest % =(3010.56/25088) x 100

=12% .

It is same solution of this question so, I think it is helpful for you

Make me as brainliest