A sum of money after a period of 2 years becomes Rs. 34,560, and it becomes Rs. 41,472 after a period of three years, being compounded at 'R' rate of interest. What is the value of R?

Answer: Option A

Solution

Answer: Option A

Solution:

$$\begin{array}{rl}& \text{CI of 1 year}=41472-34560=6912\\ & \text{Rate }\%=\frac{6912}{34560}\times 100\\ & =2\times 10\\ & =20\%\text{ Answer}\end{array}$$