Arithmetic Ability
Compound Interest

47 / 134

Q.

The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?

View Answer

Correct choice: A

Explanation:

[15000*(1+r/100)2-15000]-(15000*r*2)/100=96 Rate=8%
47 / 134