Question

A sum of money amounts to 1,210 in 2 years and to 3 1,610.51 in 5 years. Find the principal and the
rate of interest when interest is compounded annually.​

Answer 1

Answer:

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Step-by-step explanation:

ANSWER

Interest on Rs. 10580 for 1 year

=Rs.(12167−10580)

=Rs.1587

∴Rate=(

10580

100×1587

)% = 15%