Question 48
A sum of money put out at C.I. amounts to Rs. 16,900 in 2 years and to Rs. 17,576 in 3 years. Find the rate p.a.---
Solution
$$ P \times (1+r)^{2}$$ = 16900
$$ P \times (1+r)^{3}$$ = 17576
Dividing we get 1 + r = 1.04
So, r = 4%
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