1.

An amount of Rs 50 lakh becomes Rs 683815.5 after three years at compound interest. What is the rate of interest ?

Answer»

11 %



683815.5/5000000 = (R + r/100)3 
∴ 1 + r/100 = 3√683815.5/5000000
= 3√1367631/1000000 = 3√(111/100)3 
∴ 1 + r/100 = 111/100 = r/100 = 111/100 - 1 = 11/100
∴ r = 11%



Discussion

No Comment Found

Related InterviewSolutions