A sum of money invested at compound interest amounts to Rs. 4624 in 2 years and to Rs. 4913 in 3 years. Find the rate of interest per annum. MCQ with Answer and Explanation

Explanation:
Amount = 31250 * (1 + 8/100)^3 = 31250 * (27/25)^3 = 31250 * (19683 / 15625) = 2 * 19683 = Rs. 39366. Compound Interest = 39366 - 31250 = Rs. 8076. Correct option is D.

Explanation:
Amount/Principal = 48400 / 40000 = 121 / 100 = (11 / 10)^2. Therefore, 1 + R/100 = 11/10 => R/100 = 1/10 => R = 10%.

Explanation:
2700(1+r)² = 3267 ⇒ (1+r)² = 1.21 ⇒ r = 10%.