Question

1. A certain amount of money amounts to 5500 in 2 years and to 5750 in three years. Find the principal and the rate of interest.​

Answer 1

Answer:

5000

Step-by-step explanation:

let, the principal is rs. p

and rate of profit is r

for the 1st case,

amount (a)= 5500

time (n) = 2 yrs

we know,

for the 2nd case,

amount (a)= 5750

time (n)= 3 yrs  

we know,  

so,  

putting r=1/20 in the 1st equation,  

so,

r=5%

p=5000

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