The compound interest on a certain sum for two successive years are Rs.225 and R

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Question

The compound interest on a certain sum for two successive years are Rs.225 and Rs.238.50. The rate of interest per annum is :

Options:

A . 6%

B . 7$1/2$%

C . 10%

D . 5%

Answer: Option A
Answer: (a)Difference = 238.50 - 225 = Rs.13.50= S.I. on Rs.225 for 1 yearRate = $\text"S.I. × 100"/\text"Principal × Time"$= ${13.50 × 100}/{225 × 1}$ = 6% per annumUsing Rule 7(i),Here, b - a = 1B = Rs.238.50, A = Rs.225R% = $(B/A - 1)$ × 100%= $({238.50}/225 - 1) × 100%$= $({238.50 - 225}/225) × 100%$= $({13.5}/225) × 100%$ = 6%

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