Question

a sum of money is invested at compound interest payable annually the interest in two successive years is rupees 225 and rupees 240 find the rate of interest the regional sum and the interest earned in third year

Answer 1

Difference in simple interest of two years=240-225=15
Rate=(15*100)/(225*1)=20/3%
principal=(225*100)/(20/3*1)=(225*100*3)/20*1=3375
principal for second year=3375+240=3615
interest for third year=(3615*20/3*1)/100
=(3615*20*1)/(100*3)=241