A business purchased for $650,000 in 2005 is sold in 2008 for $850,000

The Prinicipal Income is $\"\"$ .

The total amount is $\"\"$ .

Time period is $\"\"$ years .

Find the rate of interest when compounded annually.

$\"\"$ .

For annually compounded $\"\"$ .

Substitute all the values in the equation.

$\"\"$

Therefore,the rate of interest is $\"\"$ .

The rate of interest is $\"\"$ .