a sum amounts to rupees 10,584 in two years and to 11,130.20 in three years. interest being compoundedannually , find the rate per cent.

Asked by abhi611 | 19th Jul, 2017, 10:27: PM

Expert Answer:

begin mathsize 16px style Amount space in space 2 space years equals Rs. space 10584
Amount space in space 3 space years equals Rs. space 11130.20
therefore Rs. space left parenthesis 11130.20 minus 10584 right parenthesis equals Rs. space 546.20 space is space the space interest space of space 1 space year space on space Rs. space 10584
therefore space Rate percent sign equals fraction numerator 546.20 cross times 100 over denominator 10584 cross times 1 end fraction percent sign equals 5.16 percent sign end style

Answered by Rashmi Khot | 20th Jul, 2017, 10:30: AM