8. On a certain sum, the compound interest in
2 years amounts to 4,240. If the rates of
interest for successive years are 10% and 15%
respectively, find the sum. in the book the answer is 16000
Answers
Answered by
3
Answer:
16000
Step-by-step explanation:
Let, the sum or principal =P.
Given, C.I. =4240, n=2 years, r
1
=10% and r
2
=15%.
∴A=P(1+
100
r
1
)(1+
100
r
2
)
⇒A=P(1+
100
10
)(1+
100
15
)
⇒A=P(
10
11
)(
20
23
)
⇒A=P(
200
253
).......(1)
Also, C.I.=A−P
⇒4240=P(
200
253
)−P
⇒4240=P(
200
53
)
⇒P=16,000
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