Question

if a sum of Rs 5600 amounts to Rs 8400 in 5 years find the rate of interest​

Answer 1

Step-by-step explanation:

Answer: 10%

I hope it will help you..

Answer 2

Step-by-step explanation:

For the first year:

P= Rs. 5,600, N=1 year and R=14%

We have S.I. =

100

PNR

=

100

5,600×1×14

= Rs. 784

And Amount at the end of first year P+S.I.= Rs. 5,600+ Rs. 784= Rs. 6,384

Now, for the second year :

P= Rs. 6,384, N=1 year and R=14%

We have S.I.=

100

PNR

=

100

6,384×1×14

= Rs. 893.76

To the nearest rupee, it is Rs. 894.