An amount of money grows up to Rs. 3136000 in 2 years, and up to Rs. 3512320 in 3 years, on compound interest. What is the rate of interest per annum ?

1) 5 % p. a.
2) 8 % p. a.
3) 10 % p. a.
4) 12 % p. a.
5) 15 % p. a.

• 3512320 - 3136000 = 376320
  
  376320/3136000 x 100 = 12 % p.a.
• 7 years agoHelpfull: Yes(20) No(2)
• 3136000=p(1+(r/100))^2
  3512320=p(1+(r/100))^3
  by dividing both,
  r=12%
• 7 years agoHelpfull: Yes(18) No(1)
• 12%
  intrest for 1 year=376320
  its is considered as SI for rs 313600 for one year
  si=pnr/100
  r=12%
• 7 years agoHelpfull: Yes(3) No(0)
• 12%,by aaplying the formulae (Y-X)/X .where Y corresponds to the amounnt in 3 years and X coresponds to the amount in 2 years.
• 7 years agoHelpfull: Yes(1) No(1)