Question

a certain sum of money at C.I becomes rupees 7396 in 2 years and 7950.70 in 3 years find the rate of interest

Answer 1

Given principal be Rs x and rate of interest be y%
Given it becomes Rs 7396 in 2 years

It is also given that principal Rs x becomes Rs 7950.70 in 3 years.

Divide (2) with (1), we get

∴ y = 7.5
Thus the rate of interest is 7.5%.