Question

A sum of money amounts to 720 in 2 years and 783 in 3 years the rate of interest is​

Answer 1

Answer:

SIMPLE INTERST hai ya COMPOUND INTERST

Step-by-step explanation:

MARK IT BRAINLIEST AND LIKE IT IF YOU UNDERSTOOD YOUR FAULT

Answer 2

Amt2= 720
Amt3=783
Interest for 1 year= 783-720 = ₹63

Let P=720, A=783
since, A=P[1+r/100]^n

783=720[1+r/100]^1
=> 783=720([100+r)/100]
=> 783/720= (100+r)/100
=> 783*100/720 = 100+r
=> 108.75 - 100 = r
=> r= 8.75 = 9

Hence, rate of interest = 9%