A sum is invested at compound interest compounded yearly. If the interest for two successive years be Rs. 5700 and Rs.7410, Calculate the rate of interest.

Interest on Rs.225 for one year
= Rs. 240 - Rs. 225 = Rs. 15

Rate of interest =?
100IPT=100?15225?1
=203%
=623%100IPT
=100?15225?1
=203%
=623%

Interest on the original sum for one year
= Rs.225
Original sum
=?100IRT=100?225203?1100IRT
=100?225203?1
= Rs.3375

At the end of two years, total amount
= 3375 + 225 + 240
= Rs.3840

Interest for 3rd year
= Interest on Rs.3840 for one year =?3840?203?11003840?203?1100?
= Rs.256
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