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    Question

    A sum invested at compound interest of 'r%' p.a.,

    compounded annually amounts to Rs. 750 at the end of second year and Rs. 900 at the end of 3rd year. Find the value of 'r'.
    A 15 Correct Answer Incorrect Answer
    B 10 Correct Answer Incorrect Answer
    C 20 Correct Answer Incorrect Answer
    D 25 Correct Answer Incorrect Answer

    Solution

    Interest earned during the third year = 900 - 750 = Rs. 150 So, rate of interest = (150/750) X 100 = 20% So, r = 20

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