Question

21.A sum of Rs. 700 amounted to Rs.1050 in 5 years. What is the rate of interest?​

Answer 1

Answer:

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Step-by-step explanation:

Assume compound interest. If the constant rate on interest is say X (as a fraction i.e. .05 rather than 5%, or .10 rather than 10% - you know what I mean) then X is given by

(1050/700)^(1/5) - 1

I make that 0.0845 or 8.5% p.a.

Answer 2

Answer:

initial money, p =700

after intrest =1050

so intrest =350

simple intrest =( p×R×T)/100

350=( 700×R× 5)/100

700×5×R= 350×100

R=10%