Question

a sum of money put out at compound interest amounts in 2 years to ₹4,410 and in three years
4630.50.Find the rate of interest and the original sum.
explain step by step.​

Answer 1

Step-by-step explanation:

Different is amounts = 4630.50 - 4410

= 220.5 Rs

Rs 220.5 is the interest on Rs 4410 is 1 year

Rate of interest = 220.5 × 100/4410

= 5%