Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

On compound interest, a certain sum amounts to ₹ 7350 in 2 years and to ₹ 8575 in 3 years. Find the rate of interest.

Options:

$\frac{25}{3}$%

$\frac{50}{3}$%

25%

33%

Correct Answer:

$\frac{50}{3}$%

Explanation:

         Sum              Amount

         7350            8575 

          294             343

           6                7 ( Interest = 1)

Rate, (1 × 100)/6 = $\frac{50}{3}$%