This question was previously asked in

DSSSB TGT Special Edu. Teacher General Section - 8 Aug 2021 Shift 2

- 25 percent
- 20 percent
- 30 percent
- 35 percent

Option 3 : 30 percent

**Given:**

The principle = 24000

Amount = Rs. 40560

Time = 2 years

**Formula used:**

Amount = Principle{(1 + Rate%)^{Time}

**Calculation:**

Let be assume rate of interest is R

⇒ 40560 = 24000 × {(100 + R)/100} × {(100 + R)/100}

⇒ 40560/24000 = (100 + R)^{2}/(100)^{2}

⇒ 1.69 = {(100 + R)/100}^{2}

⇒ √1.69 = (100 + R)/100

⇒ (1.3 × 100) = (100 + R)

⇒ 130 = 100 + R

⇒ R = 130 - 100 = 30

**∴ The required result will be 30%.**

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