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A sum of money amounted to ₹ 720 in 2 years and ₹ 792 in 3 years when interest is compounded annually. The annual rate of interest, (in %) is:

  1. A
    5%
  2. B
    7.50%
  3. C
    7%
  4. D
    10%

Solution & Step-by-step Explanation

In compound interest, the amount at the end of the 2
nd

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A sum of money amounted to ₹ 720 in 2 years and ₹ 792 in 3 years when interest is compounded annually. The annual rate of interest, (in %) is:
A
5%
B
7.50%
C
7%
D
10%

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