Question

A certain sum of money at Compund interest becones ₹7396 in 2 years and ₹7950.70 in 3 years find the rate of interest

Answer 1

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Answer 2

Interest of 1 yr on Rs.7396=7950.70-7396
                                             =Rs. 364.70
∴ 364.70=7396×1×R/100
⇒R=364.70×100/7396
      =36470/7396
       =4.931
       =5‰