A certain sum at compound interest amounts to ₹ 12960 in 2 yr and ₹ 13176 in 3 yr. Find the rate per cent per annum.

Question

Accepted Answer

SI for on ₹ 12960 for 1 yr = 13176 - 12960 = ₹ 216 By formula, SI = (P x R x T)/ 100 ⇒ 216 = (12960 x R x 1)/100 ∴ R = 5/3 = 12/3

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