Home › LIC AAO › quantitativeaptitude › Compound Interest › If CI for 1st year is ₹500 and for 2nd year is ₹…
If CI for 1st year is ₹500 and for 2nd year is ₹525 on a certain sum at the same rate, find the rate.
A5%
B10%
C8%
D12%
Answer & Solution
Correct answer: A. 5%
1. Rate = (Difference / 1st year CI) × 100.
2. = (525 − 500) / 500 × 100.
3. = 5%.
_Source: jkchrome SI-CI QB, p.4 — year-on-year CI ratio_
Related questions
If a sum at compound interest doubles in 6 years, in how many years will it become 8 timesIf the simple interest on a sum at 6% p.a. for 3 years is ₹540, what is the compound interThe compound interest on ₹16,000 for 3 years at 5% p.a. compounded annually is:At what rate compounded annually does ₹4,000 amount to ₹4,840 in 2 years?A sum amounts to ₹6,050 at 10% p.a. compound interest in 2 years. Find the principal.Find the difference between CI and SI on ₹10,000 at 10% p.a. for 2 years.The compound interest on ₹5,000 at 10% p.a. for 2 years compounded annually is:Find compound interest on ₹10,000 at 10% p.a. for 2 years (annual compounding).