Compound-Interest

Question 1

A certain principal invested at compounded interest payable yearly amounts to Rs. 10816.00 in 3 years and Rs. 11248.64 in 4 years. What is the rate of interest?

A
3%
B
4%
C
4.5%
D
5.5%
Mathematical-ReasoningCompound-InterestUGC-NET Dec 2019 Part-1
Question 1 Explanation: 
Rate of interest=((11248.64 - 10816)/10816) * 100
= (432.64 / 10816)*100
= 4%
There is 1 question to complete.

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