Question

A certain sum of money at compound interest becomes * 7,396 in two years and 7,950.70 in three years. Find the rate of interest.​

Answer 1

Answer:

Amount in 3years = Rs 7950.70

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70 Principal for 3rd year=Rs 7396

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70 Principal for 3rd year=Rs 7396 Time = 1year

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70 Principal for 3rd year=Rs 7396 Time = 1year Rate = (Interest *100)/ Principal*Time

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70 Principal for 3rd year=Rs 7396 Time = 1year Rate = (Interest *100)/ Principal*Time = 554.70*100 /7396* 1

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70 Principal for 3rd year=Rs 7396 Time = 1year Rate = (Interest *100)/ Principal*Time = 554.70*100 /7396* 1 = 55470/ 7396 = 7.5%

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70 Principal for 3rd year=Rs 7396 Time = 1year Rate = (Interest *100)/ Principal*Time = 554.70*100 /7396* 1 = 55470/ 7396 = 7.5% Let sum of money = x

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70 Principal for 3rd year=Rs 7396 Time = 1year Rate = (Interest *100)/ Principal*Time = 554.70*100 /7396* 1 = 55470/ 7396 = 7.5% Let sum of money = x Amount = Rs 7396

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70 Principal for 3rd year=Rs 7396 Time = 1year Rate = (Interest *100)/ Principal*Time = 554.70*100 /7396* 1 = 55470/ 7396 = 7.5% Let sum of money = x Amount = Rs 7396 Time = 2 years

Amount in 3years = Rs 7950.70 Amount in 2 years= Rs 7396.00 Interest for 3rd year =Rs 554.70 Principal for 3rd year=Rs 7396 Time = 1year Rate = (Interest *100)/ Principal*Time = 554.70*100 /7396* 1 = 55470/ 7396 = 7.5% Let sum of money = x Amount = Rs 7396 Time = 2 years then Amount = Principal

Answer 2

Answer:

7396 in 2 years. 7950.70 = a(1+b/100)^3 ------ (2). b = 7.5. The rate of interest = 7.5%