Rohit earns an interest of ₹ 1656 for the third year and ₹ 1440 for the second year on the same sum. Find the rate of interest if it is lent at compound interest?
Correct Answer: 15%
Explanation:
Interest on ₹ 1440 = ₹ 216 for the third year
⇒ Rate percentage = (216 x 100)/(1440 x 1) = 15 %
