please solve quick in detail don't try to answer in short
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2------7378
3-------8092
Difference is 8092-7378 = 714
1 year interest is 714
We know that S. I. Is always same for every years
2 year s. I. Is 714
2 year combined interest is 714+714=1428
Principal is 7378-1428=5950
Rate = 1428/5950=1/5=20%
3-------8092
Difference is 8092-7378 = 714
1 year interest is 714
We know that S. I. Is always same for every years
2 year s. I. Is 714
2 year combined interest is 714+714=1428
Principal is 7378-1428=5950
Rate = 1428/5950=1/5=20%
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