math

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

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  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 %

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    posted by Reiny
  2. Macho bhenchho

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