amounts to RS 8820 in 2 years
RS 9261 in 3 years .calculate rate and sum
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Step-by-step explanation:
Amount in 3 yrs - Amount in 2 yrs = Interest in 1 yr
9261 - 8820 = Internet for 1 Yr
441 = Interest for 1 Yr
Principal + Interest for 1 Yr + Interest for 1 Yr = 8820
Principal + 2(Interest for 1 Yr ) = 8820
Principal + 2(441) = 8820
Principal = 8820 - 882
Principal = 8000
Rate = Interest × 100 / Principal × time
= 441 × 100 / 8820 × 1
Rate = 5% p.a
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