Question

a certain sum of money, invested at compound interest, amounts of Rs.27783 in 3 years and Rs. 26460 in 2 years. what is percent of interest?​

Answer 1

Answer:

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%