Question

An amount on compound interest becomes Rs. 2420 in 2 years and Rs. 2662 in 3 years
Find the amount and the rate of interest.
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Answer 1

Answer:

An amount on compound interest becomes Rs. 2420 in 2 years and Rs. 2662 in 3 years

Find the amount and the rate of interest.

Answer 2

Answer:

10%

Step-by-step explanation:

Rs.2420..............be.........2 years.

Rs.2662..............be.........3 years.

Rs.(2662-2420)=242...........be...........1 year

So,

2420.................242................1 year

1...................242/2420

100.............(242/2420) * 100 = 10%