Question

a certain amount of money amounts to ₹4400 in two years and to ₹4600 in three years.find the principal and rate of interest

Answer 1

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Answer 2

Answer:

Principal is Rs.4000 and  Rate = 5%.

Step-by-step explanation:

Given : A certain amount of money amounts to ₹4400 in two years and to ₹4600 in three years.

To find : The principal and rate of interest?

Solution :

Amount in 2 years = Rs 4400

Amount in 3 years. = Rs 4600

So, Interest in 1 year = Rs(4600-4400) =Rs 200

So, Interest in 2 years = Rs (200×2)= Rs 400

Principal = Amount - Interest

P= Rs(4400-400)

P= Rs 4000

Let rate of interest be = x % p.a

Applying interest formula,

$SI=P\times R\times T$

Where,

SI is the interest SI=RS.200

P is the principal P=Rs.4000

R is the rate R=?

T is the time T=2 years

Substitute the value in the formula,

$200=\frac{4000\times x\time 1}{100}$

$x=5\%$

Therefore, Principal is Rs.4000 And Rate = 5%.