Question
The compound interest on a sum of money for 3 years is
7,280. The sum amounts to 17,280 in 3 years. What is the rate of interest compounded annually?Solution
Let the principal be P We have P + {CI} = 17,280 and CI = 7,280 So, P = 10,000 -Constable/1727257074-70.JPG)
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