Question

guys please solve it fast​

Answer 1

Hey sistu❤

Given:

1] Amount = Rs.7396

Time = 2 years.

2] Amount = Rs. 7950.70

Time = 3 years.

To Find:

The annual rate of interest?

Solution :

Let the annual rate be b.

As we know,

1] Given Rs. 7396 in 2 years.

We know that ,

$a = p( \frac{1 + b}{100} ) {}^{n}$

$7396 = a( \frac{1 + b}{100} ) {}^{2} .....(1)$

2] Given Rs. 7950.70 in 3 years.

we know that ,

$a = p( \frac{1 + r}{100} ) {}^{n}$

$7950.70 = a( \frac{1 + b}{100} ) {}^{3} .....(2)$

Now, on solving (1) and (2) we get,

$\frac{7950.70}{736} = \frac{1 + b}{100}$

$1.07500 = \frac{1 + b}{100}$

$0.075 = \frac{b}{100}$

$b = 7.5$

Hence, the rate of interest = 7.5%

Hope it helps you.❤

Answer 2

The rate of interest as per your question will be 7.5%...