Question

At what rate per cent will Rs 3600 amounts to Rs 4392 in 5 years

Answer 1

Let, the rate of interest be , 'r'

Interest = ₹(4392-3600)

             = ₹ 792

By condition,

( 3600 × r × 5) /100 = 792

⇒ 36×5×r=792

⇒r= 792 / (36×5)

⇒r = 22/5

⇒r=4.4% ( or, 4 whole of 2/5%)