A sum of money invested at compound interest to Rs. 800 in 3 years and to Rs 860 in 4 years.
A sum of money invested at compound interest to Rs. 800 in 3 years and to Rs 860 in 4 years. The
rate on interest per annum is.
Answer/Solution
7.5%
Steps/Work
Explanation:
S.I. on Rs 800 for 1 year = 60
Rate = (100*60)/(800*1) = 7.5%
Answer: D
S.I. on Rs 800 for 1 year = 60
Rate = (100*60)/(800*1) = 7.5%
Answer: D