Question

A certain sum of money lent at compound interest is 7396 in 2 years n 7950.70 in 3 years find rate

Answer 1

Given principal be Rs x and rate of interest be y% Given it becomes Rs 7396 in 2 years  It is also given that principal Rs x becomes Rs 7950.70 in 3 years.  Divide (2) with (1), we get  ∴ y = 7.5 Thus the rate of interest is 7.5%

Answer 2

Answer:

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