If a sum of RS 2744000 becomes Rs 3176523 in three years on Compound Interest then find the rate of ...........

Quantitative Aptitude (RBI Grade B) Compound Interest

If a sum of RS 2744000 becomes Rs 3176523 in three years on Compound Interest then find the rate of interest.

10%

20%

Find the cube root of both numbers. Cube root-> 3 years
cube root(2744000): cube root(3176523)
140:147
rate=(147-140)/140*100=5

Hence, option 2 is the correct answer.

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