A certain sum of money becomes rs 7,396 in two years and 7950.70 in three years find the rate of interest?
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The interest rate is 6%
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p=a1×100/(100+rt1)
=739600/100+2r
p=a2×100/(100+rt2)
=795070/100+3r
739600/100+2r=795070/100+3r
=r=8.83%(approx)
=739600/100+2r
p=a2×100/(100+rt2)
=795070/100+3r
739600/100+2r=795070/100+3r
=r=8.83%(approx)
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