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Time Value Of Money

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If the sum of money when compounded annually becomes Rs. 1,140 in 2 years and Rs. 1,710 in 3 years, the rate of interest is â?? a) 30% b) 40% c) 50% d) 60%

Jeremy Tj

CA Foundation

★ 0

24-May-22 07:50

1K+

Answers (7)

Best Answer

Since it is compund interest principal can be 1140 and interest is calculated on accumulated principal so 1140 +x%= 1710

Harshitha Kalidindi

CA Final

★ 46K+

24-May-22 07:52

50%

Harshitha Kalidindi

CA Final

★ 46K+

24-May-22 07:51

Harshitha Kalidindi

Since it is compund interest principal can be 1140 and interest is calculated on accumulated principal so 1140 +x%= 1710

Thread Starter

Jeremy Tj

CA Foundation

★ 0

24-May-22 07:56

The difference between interest of year 2 and year 3 is Rs. 570(1710-1140). Therefore rate of interest = 570/1140x100= 50%

Pratik Badade

CA Final

★ 2K+

24-May-22 07:58

1710/1140 = 1.5 So rate is .5 or 50%

CA Suraj Lakhotia

Admin

24-May-22 09:17

Use this technique to save time

CA Suraj Lakhotia

Admin

24-May-22 09:17

Try learning calculator tricks to solve sums because itâ??s helpful in solving the sums faster in examsâ?¦..

Swetha S

CA Inter

★ 15K+

24-May-22 10:59