Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The sum of the simple interest and the compound interest on ₹5,600 at the same rate of interest per annum for two years is ₹2,061.36, when in the case of compound interest, it is compounded annually. What is the rate of interest per annum?

Options:

9%

6%

15%

12%

Correct Answer:

9%