The compound interest earned on  sum in the 6th year and 7th year are Rs. 1250 and Rs. 1450 repectively. What is the rate of interest per annum (compounded annually)?

Option 1 - <p><span lang="EN-IN">14%</span></p>
Option 2 - <p><span lang="EN-IN">15%</span></p>
Option 3 - <p><span lang="EN-IN">16%</span></p>
Option 4 - <p><span lang="EN-IN">12%</span></p>
2 Views|Posted 7 months ago
Asked by Shiksha User
1 Answer
P
7 months ago
Correct Option - 3
Detailed Solution:

CI7 – CI6 = 1450 – 1250

= Rs. 200

Rate of interest = (200/1250*100)

=16% per annum

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