Question

A certain amount of money amounts to * 4.400 in two years and to 7 4,600 in three years. Find the principal
and the rate of interest.
​

Answer 1

Answer:

Amount in 2 years = Rs 4400

Amount in 3 years. = Rs 4600

Therefore Interest in 1 year = Rs(4600-4400)

=Rs 200

Therefore Interest in 2 years = Rs (200 X 2)

= Rs 400

Therefore principal = Amount - Interest

= Rs(4400-400)

= Rs 4000

Therefore let rate of interest be = x % p.a

Therefore ATQ

200 = 4000 X 1 X x / 100

Therefore x = 5

Therefore Rate % per annum = 5 % per annum

Ans. Principal = Rs 4000

Rate = 5% per annum

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