Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

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:

Options:

9%

5%

11%

10%

Correct Answer:

10%

Explanation:

Amount after 3 years = 66550

Amount after 4 years = 73205

Interest earned = 73205 - 66550

= 6655

Rate of interest = \(\frac{6655}{66550}\) × 100%

= 10%