Question

13 A sum of money is invested at C.I. payable annually. The amounts of interest
in two successive years are * 2,700 and 2,880. Find the rate of interest.​

Answer 1

Answer:

Interest for Rs 225 for 1- year = Rs (240–225) = Rs 15

So rate of interest= 15/225 x 100= (20/3%) = 6⅔%

Now at 6⅔% rate of interest the accrued interest = Rs 225

So the Principal amount

= Rs(100/ 6⅔) x 225 = Rs 3375

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Check : Interest for year-I

=Rs. 3375 x 20/3 x 1/100

= Rs 3375 x 20/300 = Rs 225

Compound interest for 2- years

= Rs. 3375 x (1+20/300)²

= Rs. 3375 x (320/300)²

=Rs. 3840

Compound interest for the second year =3840-(3375+225)= Rs. 240.

Step-by-step explanation:

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