Question

A certain sum of money invested at compound interest,amounts to Rs. 27,783 in 3 years and Rs.26,460 in 2 years.What is the rate percent of Interest .​

Answer 1

Step-by-step explanation:

26460= P (1+r)^2

27783 = P (1+r)^3

P = 26460/(1+r)^2

27783 = [26460/(1+r)^2] (1+r)^3

(1+r) = 27783/26460

(1+r) = 1.05

5%