Join ExamsbookAnswer : 3. "5%"
What is the interest rate per annum, if a sum of money invested at compound interest amount to Rs. 2400 in 3 years and in 4 years to Rs. 2,520?5
Q: What is the interest rate per annum, if a sum of money invested at compound interest amount to Rs. 2400 in 3 years and in 4 years to Rs. 2,520?
- 13.5%false
- 24%false
- 35%true
- 46.5%false
- Show AnswerHide Answer
- Workspace
Answer : 3. "5%"
Explanation :
Answer: C) 5% Explanation: Let 'R%' be the rate of interest From the given data, 25202400 = 1 + R10041 + R1003⇒1 + R100 = 6360⇒R = 5 Hence, the rate of interest R = 5% per annum.