Multiple choice

Find the difference of CI of second year and third year on a sum of Rs. 24576 at 12.5 rate of interest.

  1. 356

  2. 361

  3. 481

  4. 432

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

For CI at 12.5%: P=24576. Year 1: Amount=24576×1.125=27648, CI=3072. Year 2: Amount=27648×1.125=31104, CI=3456. Year 3: Amount=31104×1.125=34992, CI=3888. Difference between CI of 3rd and 2nd year: 3888-3456=432.

Keep practicing — related questions