A certain amount of money at compound interest grows to ₹66,550 in 3 years and ₹73,205 in 4 years. The rate per cent per annum is:
Answer & explanation
Correct answer: option 4
Amount after 3 years = 66550
Amount after 4 years = 73205
Interest earned = 73205 - 66550
= 6655
Rate of interest = \(\frac{6655}{66550}\) × 100%
= 10%