let the amount be A
and the annual rate of interest i
then:
A(1+i)^3 = 7950 , #1
and
A(1+i)^2 = 7396 , #2
divide #1 by #2
1+i = 1.0749
i = .0749 or 7.49 %
a certain sum of money atcompound interest becomes Rs7396 in 2 years and Rs7950.70 in 3 years.Find the rate of interest
2 answers
Macho bhenchho