Question

on a sum of money the compound interest calculated yearly is 7260 for the third year and rupees 7986 for the fourth year calculate the rate of interest​

Answer 1

Given
Interest =7260 (for third year )
Rupees =7986(for fourth year)

Answer 2

The rate of interest is 10%.

Step-by-step explanation:

Since we have given that

Amount for third year = Rs. 7260

Amount for fourth year = Rs. 7986

So, According to question, it becomes,

$\dfrac{P(1+\dfrac{r}{100})^4}{P(1+\dfrac{r}{100})^3}=\dfrac{7986}{7260}\\\\(1+\dfrac{r}{100})=\dfrac{7986}{7260}\\1+\dfrac{r}{100}=1.1\\\\\dfrac{r}{100}=1.1-1=0.1\\\\r=100\times 0.1\\\\r=10\%$

Hence, the rate of interest is 10%.

# learn more:

The compound interest calculated yearly on a certain sum of money for the second year is rupees 880 and for the third year it is rupees 968. calculate the annual rate of interest and the original money.

https://brainly.in/question/5524176