Question:
Some principal becomes Tk. 1,560 as profit-principal in 3 years and Tk. 1,920 as profit-principal in 6 years. Find the rate of profit.
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Description:
Given,
Principal + Profit for 3 years = 1560
Principal + Profit for 6 years = 1920
So the profit of 3 years I = Tk. (1920 - 1560)
= Tk. 360
So the principal P = Tk. (1560 - 360)
= Tk. 1200
∴ The rate of profit r = (I × 100)/(P × n)
= (360 × 100)/(1200 × 3)
= 10
This question was added in the model test of Bank Job MODEL TEST 01
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