Question

5. A sum of money if invested at compound interest for 2 years amounts to 357,600 and 65,536 in 4 years, Find
the rate and the sum.
​

Answer 1

Step-by-step explanation:

Let the sum be s

Rate be r

For 2 years ,57600 =s(1+r) 2

For 4 years ,65536=s(1+r) 4

(1+r) 2

57600

65536

⟹r=0.0667

s=50,625

Answer r=0.0667,s=50,625

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