Question

7 A sum of money invested at compound
interest amount to Rs 19,360 in 2 years
and Rs. 23425.60 in 4 years find the rate
percent and the original sum of money​

Answer 1

Answer:

Step-by-step explanation:

Amount for 4 years = Rs.23425.50

Amount for 2years = Rs.19360

Let the rate of interest =R%

A= P(1+R/ 100)T

23425.50 = 19360 (1+R/ 100)²

(1+R/ 100)² = 23425.50 / 19360

(1+R/ 100)²=121/ 100

1+R/ 100 = 11/10

R/100 =1/ 10

R = 10

Now Amount =Rs. 19360,

R = 10%

Time = 2 years

19360 =  P(1+10/ 100)²

19360 = P(11/10)²

P = 19360 × 10 × 10 / 11 × 11

P = Rs. 16000