Question

EXERCISE 2
A sum is invested at compound interest
compounded yearly. If the interest for two
successive years be * 5.700 and 7 7410
calculate the rate of interest​

Answer 1

Answer:

Difference between the C.I. of two successive years

= Rs. 741 - Rs. 570 = Rs. 171

⇒ Rs. 171 is the interest of one year on Rs. 570

So, Rate of interest = Rs. fraction numerator 100 cross times straight I over denominator straight P cross times straight T end fraction percent sign equals fraction numerator 100 cross times 171 over denominator 570 cross times 1 end fraction percent sign equals 30 percent sign