- A8
- B11
- C10
- D12
Step-by-Step Solution
Interest for the 3rd year = 5324 - 4840 = 484 on ₹4840, so rate %.
Answer: C) 10
A sum of money invested at compound interest amounts to ₹4840 in 2 years and to ₹5324 in 3 years. What is the rate of interest per annum?
Competition practiceSimple & Compound Interest
Master this topic in 30 minutes a day.
Don't just memorise the answer — build a daily practice habit.
Practice 5 Similar Questions Free →All Simple & Compound Interest practice questions
More Simple & Compound Interest practice
Mr. Iyer keeps ₹16000 in a cooperative bank deposit paying 10% per annum, compounded…A sum of money doubles itself in 8 years at simple interest. What is the annual rate of…A sum of money doubles itself in 8 years at simple interest. In how many years will it…The compound interest on a certain sum for 2 years at 10% per annum is ₹630. Find the…Under compound interest (compounded yearly), a deposit grows to ₹9680 after 2 years and…