A sum of money amounts to Rs 4840 in 2 years and to Rs 5324 in 3 years at compound interest co...........

Quantitative Aptitude ( CCS) Compound Interest

A sum of money amounts to Rs.4840 in 2 years and to Rs.5324 in 3 years at compound interest compounded annually. The rate of interest per annum is ?

10%

11%

Amount (A1) = Rs. 4840

Amount (A2) = Rs. 5324

Let the Principal = Rs. P

P -----------> Amount(1) -----------> Amount (2)

? -----------> 4840 -----------> 5324

2 years 1 year

Required rate% = (5324 - 4840)/4840 × 100% = 10%

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