Question

5) A certain sum amounts to 24840 in two years and to 5324 in three years at compound
interest. Find the rate and the sum.


i m having test--​

Answer 1

Is it even possible ? 24840 in two years and 5324 in three years. Compound interest is basically percentage increase in a certain amount over a period of time. Either you have made some typo or the question has some error in values.

Just put the correct values of y and x. Note that y must be greater than x. With this you will get the rate. Now, put this r value in any of the equations and find the value of P.

Hope, this helps...