Question

The compound interests earned for two
consecutive years , calculated annually
are RS 600 and RS 648 respectively.
Therefore the rate of interests​

Answer 1

Given :- The compound interests earned for two consecutive years , calculated annually are RS 600 and RS 648 respectively.

To Find :- the rate of interest .

Answer :-

we know that,

• In compound interest we gets interest on interest .

so,

→ Interest for 1st year = Rs.600

→ Interest for 2nd year = Rs.648

then,

→ Interest increased by = 648 - 600 = Rs.48 .

therefore,

→ Rate = (48 * 100) /600 = 8% per annum (Ans.)

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