Question

A certain sum grows upto 4840 in 2 years and upto 5324 in 3 years on compound interest. Find the rate percent.

• A. 5%
• B. 10%
• C. 15%
• D. 20%

Answer 1

Answer:

B. 10%

Interest in 3rd year = amount in 3rd year - amount in 2nd year = 5324 - 4840 = 484 rate of interest = 484 / 4840 x 100 = 10%