Question

A certain sum of money at compound interest becomes rs 2250 in 2 years and rs 2314.25 in 3 years. find the rate of interest per cent per annum.

Answer 1

Answer:

2.85

Step-by-step explanation:

2 years after= 2250

3 years after= 2314.25

1 year interest= 2314.25-2250 = 64.25

rate of interest= 64.25*100/2250

= 2.85