Mathematics · Compound Interest
The compound interest on a sum of money for the third year is Rs. 2,420, with interest being compounded annually. If the compound interest on the same sum for the fourth year is Rs. 2,662, find the annual rate of interest.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 110% p.a.✓
- 211% p.a.
- 313% p.a.
- 412% p.a.
Correct answer
10% p.a.
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