Question

A sum of money invested at compound interest amounts to 10,816 at the end of the second year
and to 11,248.64 at the end of the third year; find the rate of interest and the sum invested
[1984)
চক্রবৃদ্ধিতে লগী করা কোন টাকার দ্বিতীয় বৎসর অন্তে সমল চক্রবৃদ্ধি 10.816 টাকা এবং ততীয় বৎসর অন্তে উহা 11,248.64​

Answer 1

Answer:4%

Explanation:

Here amount after 3 years will become the principal for the next year,

Hence we can take P=10816, I=11248.64–10816 = 432.64

R= I/Px100

= 432.64/10816 x 100

= 4%