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    Question

    Simple interest and compound

    interest (compounded annually) earned on a certain sum at the end of 2 years are Rs. 3600 and Rs. 3744. Find the rate of interest p.a.
    A 8% Correct Answer Incorrect Answer
    B 12% Correct Answer Incorrect Answer
    C 6% Correct Answer Incorrect Answer
    D 18% Correct Answer Incorrect Answer

    Solution

    ATQ,

    Simple interest for 1 year = 3600/2 = Rs.1800 Difference between SI and CI for 2 years = 3744 − 3600 = Rs.144 So, desired rate = 144/1800 ×100 = 8%

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