1.

1). 6%2). 5%3). 10%4). 16%

Answer»

We KNOW the formula for compound interest -

$(\Rightarrow {\rm{\;CI}} = \left[ {{\rm{P}}\left\{ {{{\left( {1{\rm{\;}} + {\rm{\;}}\frac{{\rm{R}}}{{100}}} \RIGHT)}^t} - 1} \right\}} \right])$

Where,

CI = Compound interest

P = Principal

R = Rate of interest

T = Time period

Let the principal be P

P(1 + r/100)2 = 2000

P(1 + r/100)3 = 2320

Dividing both the equations

(1 + r/100) = 2320/2000

r = ((2320/2000) – 1) × 100

r = 16%



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