In two successive years interest on a certain sum at C.I. payable annu – InterviewSolution

1.

In two successive years interest on a certain sum at C.I. payable annually is Rs. 350and Rs.420. Find the rate of interest.

Answer»

Answer:

20%

Step-by-step EXPLANATION:

CI 1 = 350 Rs

CI 2 = 420 Rs

C = CI 2 - CI 1 = 420 - 350 = 70 Rs

% rate = (C/CI 1) × 100 = (70/350) × 100 = 20 %

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