A sum of money becomes ₹2,000 in 3 years and ₹2,400 in 4 years, at the certain rate of yearly compound interest in case of annual compounding. Find the yearly rate of compound interest.
1
20%
2
10%
3
15%
4
25%
A sum of money becomes ₹2,000 in 3 years and ₹2,400 in 4 years, at the certain rate of yearly compound interest in case of annual compounding. Find the yearly rate of compound interest.