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21 vote

A sum of money on compound interest amounts to Rs.10648 in 3 years and Rs.9680 in 2 years. The rate of interest per annum is :

Asked on by | Votes 21 | Views: 275 | Tags: mathematics     | compound interest     | quantitative aptitude     | ssc     | Add Bounty

A sum of money on compound interest amounts to Rs.10648 in 3 years and Rs.9680 in 2 years. The rate of interest per annum is :
1). 5%
2). 10%
3). 15%
4). 20%

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3 answers

1 vote
Answered by on | Votes 1 |
I am not sure, may be 10% is correct

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30 vote
Answered by on | Votes 30 |

Here is the right answer

Let the sum be P and rate of
interest be R% per annum. Then

p$(1+\frac{(R)^{2}}{100})$ = 9680 ...(i)

p$(1+\frac{(R)^{3}}{100})$....(ii)

On dividing equation (ii) by (i)

R = $\frac{1}{10}\times 100$

= 10%

Accepted Answer




0 vote
Answered by on | Votes 0 |

HOW WE CALCULATE THIS BY FINDING THE INTEREST OF 1 YEAR