Question

a sum of money of C I BECOME 7396 Rs in two years & 7950.70 Rs in three year. find rate of interest

Answer 1

Rate of interest =
$\frac{(amoumt \: in \: current \: year \: - \: amount \: in \: previous \: year) \times 100 }{(amount \: in \: previous \: year)}$

= $\frac{(7590.70 - 7396) \times 100 }{7396}$

=7.5%