RRB NTPC · Question 51
A sum of money amounts to Rs. 12,100 in 2 years and Rs. 13,310 in 3 years, when compounded annually. Find the rate of interest.
Show answer & explanation
Answer: (C) 10%
Explanation
One year's growth: 13310/12100 = 1.1, so the rate is 10% per annum.