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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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