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Question

A sum of money will amount to Rs. 640 in 2 year & in 3 year it is to be 720 in compound interest . Find the rate of interest?

Q: A sum of money will amount to Rs. 640 in 2 year & in 3 year it is to be 720 in compound interest

Rate of interest = (720- 640)/640 × 100 = 80/640 × 100 = 12.5%

A 6.25%

B 50%

C 40%

D 12.5%

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Question

A sum of money will amount to Rs. 640 in 2 year & in 3 year it is to be 720 in compound interest . Find the rate of interest?

Solution

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