Practicing Success
Practicing Success
CUET Preparation Today
A sum of money is invested at compound interest, which is compounded annually. The sum grows to ₹1000 after three years, and ₹1100 after four years. What is the rate of interest per annum? |
12.5% 10% 15% 20% |
10% |
Difference in compound interest of 3 rd and 4th year = 1100 - 1000 = Rs. 100 Rate of interest = \(\frac{100}{1000}\) × 100% = 10% |
