Question 98

If the compound interest for the $$3^{rd}$$ and $$4^{th}$$ year on a certain principal is Rs 125 and Rs 135 respectively, what is the rate of interest (in %)?

Solution

Interest for 4- years= ₹ 135
Interest for 3- years= ₹ 125.
Therefore interest for ₹ 125 for 1- year =₹10
So interest for ₹ 100 for 1- year =(10/125) x100 = ₹8
Therefore rate of interest= 8% .
C is correct choice.

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