A certain sum when lent at compound interest, the interest being compounded annually, amounts to Rs.1331 in 3 years and Rs. 1464.10 in 4 years. Find the rate of interest per annum.

  • Option 1)

    10%

  • Option 2)

    15%

  • Option 3)

    25%

  • Option 4)

    5%

  • Option 5)

    20%

Answers (1)

Interest in 3 year is = 1331

Interest 4 years is = 1464.10

Difference = 333.10

So rate is =\frac{333.10}{1331}\times 100=10\; ^{0}\! /_{0}

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