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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 -

14%

Option 2 -

15%

Option 3 -

16%

Option 4 -

12%

0 1 View | Posted a month ago
Asked by Shiksha User

  • 1 Answer

  • P

    Answered by

    Payal Gupta | Contributor-Level 10

    a month 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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