A sum of money amounts to Rs. 4,840 in 2 years and Rs. 5,324 in 3 years at compound interest. Find the rate percent per...

Type: MCQ • Marks: 1

A sum of money amounts to Rs. 4,840 in 2 years and Rs. 5,324 in 3 years at compound interest. Find the rate percent per annum.

A. 1) 9%

B. 2) 12%

C. 3) 10%

D. 4) 8%

Explanation

Interest for 3rd year = 5324 - 4840 = Rs. 484 on Rs. 4840. Rate = (484 / 4840) * 100 = 10% per annum.

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UP TGT Mathematics

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