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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 ?

  • 1
    20% p.a
  • 2
    15% p.a
  • 3
    18% p.a
  • 4
    24% p.a
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Answer : 1. "20% p.a"
Explanation :

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

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