Join WhatsApp Icon CAT WhatsApp Group
Question 43

A sum of money compounded annually becomes Rs.625 in two years and Rs.675 in three years. The rate of interest per annum is

Solution

Share

As we know, formulae of compound interest for 2 years  will be:
$$P(1+\frac{r}{100})^{2}$$ = 625  (Where r is rate, P is principal amount)
For 3 years:
$$P(1+\frac{r}{100})^{3}$$ = 675
Dividing above two equations we will get r=8%

Video Solution

video
View More Questions From Interest

Create a FREE account and get:

  • All Quant CAT complete Formulas and shortcuts PDF
  • 38+ CAT previous year papers with video solutions PDF
  • 5000+ Topic-wise Previous year CAT Solved Questions for Free

CAT Quant Questions | CAT Quantitative Ability

CAT Geometry QuestionsCAT Progressions and Series QuestionsCAT Remainders QuestionsCAT Simple Interest Compound Interest QuestionsCAT Inequalities Questions

CAT DILR Questions | LRDI Questions For CAT

CAT Table based DI Sets QuestionsCAT DI Miscellaneous QuestionsCAT Coins and Weights QuestionsCAT Data change over a period QuestionsCAT Quant Based LR Questions

CAT Verbal Ability Questions | VARC Questions For CAT

CAT Verbal Ability QuestionsCAT Para Jumbles QuestionsCAT Grammar and Sentence Correction QuestionsCAT Reading Comprehension QuestionsCAT Odd One Out Questions

Free CAT DILR Questions

CAT Special Charts

CAT Games and Tournamnents

CAT Table based DI Sets

CAT Truth Lie Concept

CAT 2D & 3D LR

CAT Venn Diagrams

CAT Quant Based LR

CAT Maxima-Minima

CAT DI Miscellaneous

CAT DI with connected data sets

CAT Arrangement

CAT Selection With Condition

CAT Data Interpretation Basics

CAT Data Interpretation

CAT Charts

CAT Coins and Weights

CAT Quant Based DI

CAT Data change over a period

CAT Puzzles

CAT Routes And Networks

CAT Miscellaneous LR

CAT Scheduling