A sum of money with compound interest amount to Rs.72,600 in 2 years and Rs.87846 in 4 years . Find the rate of interest.
Answers
Answered by
1
Answer:
Given that Rs. 9,680 becomes Rs. 10,648 in one year
therefore, Interest = Rs. 10648− Rs. 9,680= Rs, 968
⇒Rate=
P×t
Interest×100
=
9680×1
968×100
=10%
Thus the rate of interest per annum is 10%
Similar questions