If the amount received at the end of 2nd and 3rd year at compound interest on a certain Principal is Rs 30250, and Rs 33275 respectively, what is the rate of interest?
Compound interest at the end of 2nd year = Rs. 30,250
Compound interest at the end of 3rd year = Rs. 33,275
=> Difference = 33275 - 30250 = Rs. 3025
This is the interest obtained on the amount of 2nd year.
$$\therefore$$ Rate of interest, $$r = \frac{3025}{30250} \times 100 = 10 \%$$
=> Ans - (A)
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