Find the rate of interest per annum on a sum of money invested? Statement I: The difference between the compound interest and simple interest at the end of 3 years at same rate of interest is Rs 120. Statement II: A compound interest of Rs 7368 is obtained after 4 years of investment.

From I : Pr^{2}/100^{2}= 120 From II : 7368 = P [(1 + r/100)^{3}– 1] From I and II we have 2 equations in 2 variables which can be solved to find the rate of interest.

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