If compound interest for 13th year is Rs. 1715 at \(16\frac{2 }{3}\) % p.a. Then find the compound interest for 10th year.
Answer & explanation
Correct answer: option 3
16\(\frac{2 }{3}\)% = \(\frac{1}{6}\) ⇒ \(\frac{7 → Amt.}{6 → Pri.}\)
For three years gap:
10th year : 13th year
C.I. : 63 : 73
216 : 343
Here,
343R = 1715
1R = 5
216R = 216 × 5 = 1080 = Sum at 10th year.