At what rate percent compound interest will Rs. 1600 amount to Rs. 1852.20 in 3 years? MCQ with Answer and Explanation

Explanation:
The sum becomes 2^1 times in 5 years. It will become 16 (2^4) times in 4 * 5 = 20 years.

Explanation:
Effective rate of compound interest for 2 years at 10% = 10 + 10 + (1010)/100 = 21%. Simple interest rate = 10 * 2 = 20%. Given 21% of sum = 1050 => 1% of sum = 50. Simple Interest = 20% of sum = 20 * 50 = Rs. 1000.

Explanation:
Half-yearly rate 5%, n=2. A = 5000 × (1.05)² = 5000 × 1.1025 = 5512.50, CI = 5512.50 − 5000 = Rs. 512.50.