Mathematics
For two consecutive years, a sum lent out at C.I. earns ₹ 600 and ₹ 690 respectively. The rate of C.I. is :
12%
18%
15%
5%
Compound Interest
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Answer
Difference between C.I. of two successive years = ₹ 690 - ₹ 600 = ₹ 90
∴ ₹ 90 is the interest of one year on ₹ 600.
By formula,
Rate of interest = = 15%.
Hence, Option 3 is the correct option.
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