Question
A sum of money put at compound interest amounts in 2 years to Rs. 672 and in 3 years Rs. 714. The rate of interest per annum is = ?
Answer: Option C
$$\eqalign{
& {\text{S}}{\text{.I}}{\text{. on Rs}}{\text{. 672 for 1 year}} \cr
& {\text{ = Rs}}{\text{. }}\left( {714 - 672} \right) \cr
& {\text{ = Rs}}{\text{. 42}} \cr
& \therefore {\text{Rate = }}\left( {\frac{{100 \times 42}}{{672 \times 1}}} \right){\text{% }} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ = 6}}{\text{.25% }} \cr} $$
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$$\eqalign{
& {\text{S}}{\text{.I}}{\text{. on Rs}}{\text{. 672 for 1 year}} \cr
& {\text{ = Rs}}{\text{. }}\left( {714 - 672} \right) \cr
& {\text{ = Rs}}{\text{. 42}} \cr
& \therefore {\text{Rate = }}\left( {\frac{{100 \times 42}}{{672 \times 1}}} \right){\text{% }} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,{\text{ = 6}}{\text{.25% }} \cr} $$
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