#if a sum become rs 6480 in 3 years and rs 7776 in 4 years interest being compounded annually, find the sum and rate of interest. solve it
it's urgent

The rate of interest is 20% and the sum is $3,750

Step-by-step explanation:

In order to calculate the sum and rate of interest we would have to make the following calculation:

rate of interest= (sum in 4 years-sum in 3 years)*100/sum in 3 years*1

According to the given data we have the following:

sum in 4 years=$7,776

sum in 3 years=$6,480

Therefore, sum in 4 years-sum in 3 years=$7,776-$6,480=$1,296

Therefore, rate of interest=$1,296*100/$6,480*1

rate of interest=20%

To calculate the sum we would have to make the following calculation:

FV=PV(1+20%)∧3

$6,480=PV(1,20)∧3

PV=$3,750

Sum is $3,750

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step-by-step explanation: