Question

If the compound interest on an amount of Rs.29000 in two years is Rs.9352.5, what is the rate of interest?

• A. 11
• B. 9
• C. 15
• D. 18
• E. None of these

Answer 1

The correct option is C

15

P=29000 CI=9352.5 N=2 years A=P+I=38352.50
Substituting the values in
$A=P{(1+\frac{R}{100})}^n$
Solving we get R=15%.