1.

An amount of money grows up to Rs 400 in 2 years and up to 560 in 3 years on compound interest. What is the rate per cent ?

Answer»

<P> 40 %



P + CI of 3 YEARS = Rs 560...........(i)
P + CI of 2 years = Rs 400 ............(ii)
(i)-(ii)=CI for 3rd year = 560 - 400 = Rs 160
R = 160x100/400x1 = 40%



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