Question

The annual compound interest on a sum of money in 2 years and 3 years are Rs 210 and Rs 331.Find the rate of interest

Answer 1

Answer:

rate of interest = 39

Step-by-step explanation:

AMOUNT = P(1+R/100) KI POWER TIME

COMPOUND INTEREST = AMOUNT- PRINCIPAL

LET  PRINCIPAL = 100

GIVEN  CI 210 SO AMOUNT = 210+100 =310 AND 331+100 = 431 respectfully

310  = 100( (1+R/100) KI POWER 2         (i)

431  = 100( (1+R/100) KI POWER 3        (i)

DIVIDE EQ 2 BY 1 WE GET

431 /310  =  ( (1+R/100)      

(431-310)  /310   = R/100

121 *100/310  = R

R= 39% APPROX

Answer 2

Answer:

10%

Step-by-step explanation:

as we know in CI for 10% in 2 years and 3 years will become 21 and 33.1 respectively.If we observe the format of interests those are 210 and 331.

which shows rate percent is 10 and principal is 1000