Question
A sum is invested at a certain rate (p.a.) of compound
interest (compounded annually). The interest earned after 1st year and after 2 years of investment is Rs. 3,000 and Rs. 3,420. Find the rate of interest per annum.Solution
ATQ,
Interest received in 2nd year = 3420 - 3000 = Rs. 420, which is equal to
interest earned on Rs. 3,000.
Rate of interest = (420/3000) × 100 = 14%
More Simple and compound interest Questions
What will come in the place of questions (?) mark in the following questions.
160, 223, 271, 306, 330, ?
What will come in place of the question mark (?) in the following series?
520, 519, 511, ?, 420, 295
- What will come in place of (?), in the given number series.
2, 5, 10, 17, ?, 37 562, 628, 698, ?, 850
What will come in place of the question mark (?) in the following series?
16, 16, ?, 96, 384, 1920
8, 15, 44, 175, 874, ?
14.8% of 7200 – 16.4% of 6200 + 15.09% of 8100 = 10% of ?
- What will come in place of the question mark (?) in the following series?
6, 24, 60, ?, 210, 336 98, 89, 114, 50, 194, ?
4, 9, 25, ?, 121, 169
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