Question
A sum invested at compound interest of 'r%' p.a.,
compounded annually amounts to Rs. 750 at the end of second year and Rs. 900 at the end of 3rd year. Find the value of 'r'.Solution
Interest earned during the third year = 900 - 750 = Rs. 150 So, rate of interest = (150/750) X 100 = 20% So, r = 20
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