Question

If rs 640amount to rs 985.60 in 3 years, what will rs 860 amount to in 2 years, if the rate of interest is the same in both cases?

Answer 1

985.6-640=(640×r×3)/100
r=34560÷(640×3)
r=18
amount=860+(860×18×2)/100
=860+309.6
=1169.6