A sum at compound interest amounts to Rs. 13,225 in 2 years and to Rs. 15,208.75 in 3 years. What is the rate of interest per annum?
Correct answer D. 15%
Explanation
Interest in year 3 = 15208.75 − 13225 = 1983.75. Rate = 1983.75 × 100 / 13225 = 15% per annum.
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