A certain sum of money at compound interest grows up to ₹ 12960 in 2 years and up to ₹ 13176 in

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6.Interest

hard

A certain sum of money at compound interest grows up to ₹ $12960$ in $2$ years and up to ₹ $13176$ in $3$ years. Find the rate per cent per annum.

$1 \frac{1}{3}$

$2 \frac{1}{3}$

$1 \frac{2}{3}$

None of these

Solution

(a) Here, $x=12960, y=13176, A=2$ and $B=3$

$\begin{aligned} \therefore \quad R &=\left[\left(\frac{y}{x}\right)^{1 / B-A}-1\right] \times 100 \% \\ &=\left(\frac{13176}{12960}-1\right) \times 100 \% \\ &=\left(\frac{216}{12960} \times 100\right) \% \\ &=\frac{4}{3} \% \text { or } 1 \frac{1}{3} \% \end{aligned}$

Standard 13

Quantitative Aptitude

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hard

A certain sum of money at compound interest grows up to ₹ $12960$ in $2$ years and up to ₹ $13176$ in $3$ years. Find the rate per cent per annum.

Solution

Similar Questions

What will be $C.I.$ (In $Rs.$) on an amount of $Rs. 10000$ at the rate of $20$ $p.c.p.a.$ in two years if the interest rate is compounded half yearly?

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