Multiple Choice Question

A sum of money becomes ₹6,000 in 2 years and ₹6,600 in 3 years at compound interest. What is the rate of interest?

A
5%
B
10%
C
15%
D
20%

Explanation:

The rate of interest is 10% based on the growth from ₹6,000 to ₹6,600 in one year

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This question belongs to the set "Mathematics Practice Quiz on Simple and Compound Interest". Click below to read detailed notes and attempt the full quiz.

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