Question

in two successive years interest on a certain sum at compound interest payable anually is 350 and 420. find the rate of interest

Answer 1

Answer:

A sum is invested at compounded interest payable annually.The interest in the first two successive years was Rs. 400 and Rs. 200 .Find the sum. ... Simple interest on Rs 400 for 1 year = 420-400= Rs 20. Rate = PT100×SI​=400×1100×80​=5%. Rs 400 is ...

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