A sum of money amounts to Rs. 6050 in 2 years and to Rs .6655 in 3 years at C.I. being compounded annually. Find the sum and the rate...

• Interest for one year = (6655- 6050)=605
  Rate of interest = (605/6050)*100 = 10%
  ie, r=10%
  
  now, from p(1+r/100)^2= 6050
  p(1+10/100)^2 = 6050
  p= 5000
• 9 years agoHelpfull: Yes(1) No(0)
• a=p(1+r/n)^y
  
  p=5000
  r = 10%
• 9 years agoHelpfull: Yes(0) No(0)