At what rate percent per annum will a sum of Rs.20736 amount to Rs.50625 in four years, if the interest is compounded annually?
Answer & explanation
Correct answer: option 3
Principal : Amount
20736 : 50625
For four years,
\(\sqrt[4]{20736 }\) : \(\sqrt[4]{50625 }\)
12 : 15
Rate % = \(\frac{3}{12}\)× 100 = 25%