. A sum is invested at compound interest compounded yearly. If the interest for two successive years is Rs. 570 and Rs. 741, calculate the rate of interest
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30%
Difference between the C.I of two successive years=7410−5700=Rs.1710
Rate of interest=
C.I of preceding year×time
Difference between the C.I of two successive year×100
∴Rate of intereast=
5700×1
1710×100
=30%
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