Question

compound interest on a sum of money at simple interest amounts to add 1624 in 4 years and 1736 in 6 years the rate of interest for per annum is what

Answer 1

Step-by-step explanation:

interest in 2 year = 1736-1624 = 112

interest in first 4 year = 112*2 = 224

principal = 1624-224 = 14००

R = 112*100/1400 = 8%

Answer 2

Answer: 8%

Step-by-step explanation:

interest in 2 years = 1736-1624 = 112

interest in first 4 years = 112×2 = 224

principal = 1624-224 = 1400

R = 112×100/1400 = 8%