Question

At what rate of interest per year a sum of Rs7200 amount to Rd 9540 in 5 years?

Answer 1

Answer:

6.5% per annum

Step-by-step explanation:

9540-7200=2340

7200÷100=72

1%interest =72rs

2340÷72=32.5%interest for 5 years

for one year interest will be : 32.5÷5=6.5%