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Question
a sum is invested at compound intrest compounded yearly. if the intrest for two successive years be rs 5,700 and rs 7,410, calculate the rate of intrest.

Answer
The starting amount is rs 5,700 and the ending amount is 7,410.
To find the total interest earned, take 7,401/5,700 - 1 = 1.3 - 1 = .3, which is 30%.

That, however, is the interest for 2 years.
To get the interest for 1 year, compute sqrt(1.3) - 1 = 1.14 - 1 = 14%.

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Scott A Wilson

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I have answered every question that was a story problems that had any relation to math for which an answer existed. I have ever answered some questions which had a vague relation to math, but still related.

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