Question

If the compound interest on an amount of Rs. 29000 in two years is Rs. 9352.5, what is the rate of interest?

• A. 11
• B. 9
• C. 15
• D. 18

Answer 1

Answer:

C. 15

P = 29000, Cl = 9352.5, N = 2 years , A = P + I = 38,352.5 Substituting the values in A = P(1 + R/100) Solving we get R = 15%.