A certain sum amount to 9,440 in 3 years and to 10,400 in 5 years . find the sum and the rate percent
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1
Answer:
6%.
Step-by-step explanation:
We take the principal =P, rate =R, time =T.
So, amount A=P+I=P+
100
PRT
.
In the first situation, we have
A= Rs. 9440,T=3 yr. P=P,R=R%.
∴P+
100
PR×3
=9440
⇒100P+3PR=944000 ........(i)
In the second situation, we have
A= Rs. 9800,T=3 yr. P=P,R=( R+R×
100
25
=
4
5R
)%
∴P+
100
3PR
×
4
5
=9800
⇒80P+3PR=784000 ........(ii)
Now, (i)−(ii)
⇒20P=160000
⇒P= Rs. 8000.
Then, in the first situation,
∴P+
100
3PR
=9440
⇒8000+
100
3×8000×r
=9440
⇒240R=1440
⇒R=6%
So, the required rate is 6%.
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