For a fixed principal, the ratio of the amounts for 3 and 2 years is 21:20. What is the rate of interest? (Enter the numerical value only, not the % sign.)

Question

For a fixed principal, the ratio of the amounts for 3 and 2 years is 21:20. What is the rate of interest? (Enter the numerical value only, not the % sign.)
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Solution 1

Let's assume the principal amount is P.

According to the given information, the ratio of the amounts for 3 and 2 years is 21:20.

Let's calculate the amount after 3 years: Amount after 3 years = P + (P * r * 3), where r is the rate of interest.

Let's calculate the amount after 2 years: Amount aft Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob

Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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