Question

A certain sum of money amounts to Rs.7260 in 2 years and Rs.7986 in 3 years,intrest being compounded annually. Find the rate per annum

Answer 1

Answer:

3.33%

Step-by-step explanation:

7986 - 7260 =

726 simple interest =amount-principal

simple interest= principal *rate*time/100

726= 7260*rate*3/100

rate=726*100/3*7260

rate= 100/30=3.33%