Arithmetichard · Past Paper
A certain sum of money amounts to Rs 2420 in 2 years and Rs 2662 in 3 years at compound interest. Find the rate.
A8%
B9%
C10%
D12%
✓ Correct Answer: C — 10%
Interest on Rs 2420 for 1 year = 2662 - 2420 = 242. Rate = (242*100)/(2420*1) = 10%.
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