Compound Interest (SSC) (Part-4)

Total Questions: 11

11. A Sum amounts to Rs. 7,562 in 4 years and to Rs. 8,469.44 in 5 years at a certain rate percent per annum. When the interest is compounded annually, The rate of interest is: [SSC CPO 23/11/2020 (Morning)]

Correct Answer: (b) 12%
Solution:

Amount at the end of 4 years = 7,562
Amount at the end of 5 years = 8,469.44
Net interest = 907.44