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.
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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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