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A sum of money at the simple interest amounts to ₹5852 in3 years and ₹7788 in 7 years. What is the rate of interest per annum? |
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Answer» a) 8 ` A + (A xx r xx 3)/100 = 5852` ` A( 1 + (3r)/100)= 5852` ` A + ( Axxr xx 7)/ 100 = 7788` ` A ( 1 + ( 7R)/100) = 7788` From equation (i) and (ii), r=11% |
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