Question

LULJU I 2 years al compound Interest, if the rates are
59 and 6% for the successive years?
A sum of money is invested at compound interest payable annually. The interest in
two successive years is *225 and 240. Find :
(1) the rate of interest.
(ii) the original sum.
(iii) the interest earned in the third year.​

Answer 1

Answer:

Interest at the end of 1 year =275 Rs.

Interest at the end of 2 years =300 Rs.

Interest for 1 year =300−275=25 Rs.

Rate of interest =

P×T

100×I

=

275×1

100×25

=

11

100

=9

11

1

Thus, the rate of interest is 9

11

1