Question

A person takes a loan of Rs.9,000 at a certain rate of compound
interest. He repays Rs. 6000 at the end of the first year and Rs. 5760 at the end of the second year and clears the debt. If the rate of interest is the same in both the years, then find the rate of interest, given that interest is compounded annually.​

Answer 1

Answer:

6000-5760

240/9000

560

Answer 2

Answer:

30.66%

Step-by-step explanation:

=A person taken a loan=rupees 9000

He repays at the end of the first year=rupees 6000

and pays at the end of the second year=rupees 5760 and clears it's debt.

Pays the end of the first year+pays the end of the second year

6000+5760

=11,760

sum of both the year-person taken a loan

11,760-9000

=2,760

rate of interest=2760 ÷9000×100

=30.66%