1.

A fixed sum invested received Rs. 1600in the first year And Rs. 1728 in the 2nd year as compound interest the rate of interest compounded anually?

Answer»

Answer:

Correct option is

A

30%

Difference between the C.I of two SUCCESSIVE years=7410−5700=Rs.1710

Rate of interest=

C.I of preceding year×time

Difference between the C.I of two successive year×100

∴Rate of intereast=

5700×1

1710×100

=30%

Step-by-step EXPLANATION:

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