Join ExamsbookAnswer : 1. "20% p.a"
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 ?5
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 ?
- 120% p.atrue
- 215% p.afalse
- 318% p.afalse
- 424% p.afalse
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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