# math

a certain sum of money atcompound interest becomes Rs7396 in 2 years and Rs7950.70 in 3 years.Find the rate of interest

1. 👍 0
2. 👎 0
3. 👁 159
1. let the amount be A
and the annual rate of interest i
then:
A(1+i)^3 = 7950 , #1
and
A(1+i)^2 = 7396 , #2

divide #1 by #2
1+i = 1.0749
i = .0749 or 7.49 %

1. 👍 0
2. 👎 0
posted by Reiny
2. Macho bhenchho

1. 👍 0
2. 👎 0

## Similar Questions

1. ### math

A sum of money invested at compound interest amounts to Rs.4,624 in 2 years and to Rs.4,913 in 3 years. The sum of money is:

asked by Haroon Gondal on November 9, 2015
2. ### algebra 2

If a sum of money is deposited in a savings account that is paying x percent annual interest the this sum of money increases by a factor of(1+x) squared after 2 years. multiply this expression. evaluate the polnomial expression

asked by scott on April 25, 2012
3. ### Mathematics

A sum of money invested at compound interest amounts to rupees for 4624 in 2 years and 2 Rupees 4913 in 3 years the sum of money is

asked by Ak!@#\$%^& on February 10, 2018
4. ### Math

(a) Themba wants to deposit a sum of money into a savings account so that he will have R30 000 in 3 years time for an overseas holiday how much money must he deposit into the account if the interest paid on the savings is 8,5% p.a

asked by Lesedi on August 26, 2014
5. ### Algebra HELP!

If a sum of money is deposited in a savings account that is paying x percent annual interest (expressed as a decimal), then this sum of money increased by a factor of (1+x)^3 after 3 years. A. multiply this expression B. Evaluate

6. ### Maths

What will become Rs 4630.50 in 1 and haif years ,if the rate of interest is 10% per annum compounded half yearly? At what rate per cent does compound interest on a sum of money becomes fourfold in 2 years?

asked by Hussan on November 3, 2016
7. ### Math

A sum of money burrowed at a particular rate of interest amounts to Rs 8320 in 2 years and Rs 9685 in 3 and a half years. Find the sum burrowed.

asked by Mongnapar on October 17, 2018
8. ### Alpha

mr brown borrowed \$5,340 from a bank at 10% aunnum simplr interest for 9 years. the sum of the money paid in interest to the bank and the total amount of money repaid to the bank

asked by megan on June 18, 2015
9. ### Maths

Mrs Ricky borrowed \$5,340 at a bank at 9.5% per annum simple interest for 5 years. (A) the sum of money paid in interest to the bank. (B) the total amount of money repaid to the bank. (C) the value of each monthly installment.

asked by Andre on January 13, 2017
10. ### Math

Suppose you deposit \$2000 in an account with an annual interest rate of 7% compounded quarterly. Use the formula A=P(1+r/n)^n*t and round each answer to 2 decimal places, if necessary. a. Find an equation that gives the amount of

asked by Keonn'a on December 4, 2018

More Similar Questions