Mathematical Aptitude - Interest

12. Some amount becomes Rs 900 in 3 years if calculated on compound interest, and the same amount becomes Rs 1000 in the 4th year. What was the principal amount and rate of interest?

  • Option : C
  • Explanation : Hint: First calculate that Rs 900 becomes Rs 1000 in fourth year. Calculate rate of interest by application of simple interest formula. Thereafter principal amount can also be calculated.
Cancel reply
Cancel reply