The compound interest compounded annually on a certain sum is rs 9680 in second year and is 10648in third year. Calculate the rate of interest and find the interest for 4th year and 1st year
Answers
Answered by
0
Step-by-step explanation:
Given that Rs. 9,680 becomes Rs. 10,648 in one year
therefore, Interest = Rs. 10648− Rs. 9,680= Rs, 968
⇒Rate=
P×t
Interest×100
=
9680×1
968×100
=10%
Thus the rate of interest per annum is 10%.
Similar questions