Raghav went to deposit a certain sum of money to the bank. The banker told him that he would get an amount of Rs.5,082 after three years and if he deposits the money for 5 years, he would get an amount of Rs.5,670. Find the rate percent per annum.

S.I for 2 yrs = Rs.5,670 - 5,082 = Rs.588 ∴ S.I for 3 yrs = 588/2 × 3 = Rs.882 ∴ P = Rs.5,082 – 882 =Rs. 4,200 ∴ R = (882 × 100)/(4200 × 3) = 7 % p.a.

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