Andrews Earns An Interest Of Rs. 1596 For The Third Year And Rs. 1400

1.	Andrews Earns An Interest Of Rs. 1596 For The Third Year And Rs. 1400 For The Second Year On The Same Sum. Find The Rate Of Interest If It Is Lent At Compound Interest?
Answer» Interest earned in 3rd year = Rs. 1596 Interest earned in 2ND year = Rs. 1400 i.e, in 3rd year, Andrews gets ADDITIONAL interest of (Rs. 1596 - Rs. 1400) = Rs.196 This MEANS, Rs.196 is the interest obtained for Rs.1400 for 1 year R=100×SI/PT=100×196/1400×1=196/14=14%. Interest earned in 3rd year = Rs. 1596 Interest earned in 2nd year = Rs. 1400 i.e, in 3rd year, Andrews gets additional interest of (Rs. 1596 - Rs. 1400) = Rs.196 This means, Rs.196 is the interest obtained for Rs.1400 for 1 year R=100×SI/PT=100×196/1400×1=196/14=14%.

Andrews Earns An Interest Of Rs. 1596 For The Third Year And Rs. 1400 For The Second Year On The Same Sum. Find The Rate Of Interest If It Is Lent At Compound Interest?

Answer»

Interest earned in 3rd year = Rs. 1596

Interest earned in 2ND year = Rs. 1400

i.e, in 3rd year, Andrews gets ADDITIONAL interest of (Rs. 1596 - Rs. 1400) = Rs.196

This MEANS, Rs.196 is the interest obtained for Rs.1400 for 1 year

R=100×SI/PT=100×196/1400×1=196/14=14%.

Interest earned in 3rd year = Rs. 1596

Interest earned in 2nd year = Rs. 1400

i.e, in 3rd year, Andrews gets additional interest of (Rs. 1596 - Rs. 1400) = Rs.196

This means, Rs.196 is the interest obtained for Rs.1400 for 1 year

R=100×SI/PT=100×196/1400×1=196/14=14%.

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