Ravi invested at compound interest amounts to Rs 600 in 2nd year and 642 in 3 years. what rate of interest per annum he recevied ?
Ravi invested at compound interest amounts to Rs 600 in 2nd year and 642 in 3 years. what rate of interest per annum he recevied ?
Solution
✅ Correct Option: 3
Under compound interest, the amount at the end of the third year is the second year's amount grown by one year's interest.
Interest for that year on a principal of 600.
Rate per annum.
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