Question

A sum of money placed out at compound interest amounts to 20160 in 3 years and to 24192 in 4 years calculate the rate of interest, amount in 2 years a

Answer 1

The interst of 4th year is
24192-20160= 4032

So the rate of interest will be
4032*100/20160 = 20%

Answer 2

Answer:

= 20%

Step-by-step explanation:

the rate of the intrest is 20%