A certain principal is invested in a scheme of compound interest. The amount obtained after 1 year is Rs. 2400 and the amount obtained after 2 years is Rs. 2880. What is the rate of interest (in percentage)?

A certain principal is invested in a scheme of compound interest. The

1.	A certain principal is invested in a scheme of compound interest. The amount obtained after 1 year is Rs. 2400 and the amount obtained after 2 years is Rs. 2880. What is the rate of interest (in percentage)?
A.	20
B.	15
C.	25
D.	10
Answer» B. 15

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A certain principal is invested in a scheme of compound interest. The amount obtained after 1 year is Rs. 2400 and the amount obtained after 2 years is Rs. 2880. What is the rate of interest (in percentage)?

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