ICSE Class 9 Answered
On a certain sum of money, lent out at C.I., interests for first, second and third years are rs 1,500; rs 1725; rs 2070 respectively. Find the rate of interest for the (i) second year (ii) third year.
Asked by manidipasutradhar | 05 May, 2019, 09:14: PM
Expert Answer
According to the question,
P(1 + i) = 1500 ....(i)
and P(1 + i)2 = 1725 ....(ii)
Dividing (ii) by (i) we get
i = 15%
Find P using (i) we get P = Rs. 1304.34
Now find intrest for second and third year.
Answered by Sneha shidid | 06 May, 2019, 09:53: AM
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