If the compound interest accrued on an amount of Rs.15, 000/- in two years is Rs.2,496/-.What is the rate of interest p.c.p.a.?

If the compound interest accrued on an amount of Rs.15, 000/- in two years is Rs.2,496/-.What is the rate of interest p.c.p.a.? - Answer with Definition

If the compound interest accrued on an amount of Rs.15, 000/- in two years is Rs.2,496/-.What is the rate of interest p.c.p.a.?

1. 8
2. 10
3. 6
4. Cannot be determined
5. None of these

Ans:

8