A certain sum amounts to 25292 in 2 years and to 25556-60 in 3 years at compound
interest. Find the rate and the sum.
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7th
Maths
Comparing Quantities
Simple Interest
A certain sum amounts to Rs...
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Asked on December 26, 2019 by
Lisa Sisangia
A certain sum amounts to Rs. 5,292 in two years and Rs. 5,556.60 in three years, interest being compounded annually. Find the rate of interest.
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ANSWER
Sum after 2 years =Rs.5292
Sum after 3 years =Rs.5556.60
Interest for onr year =5556.60−5292=Rs.264.60
C.I for 1 year = S.I for 1 year
Interest=
100
PRT
⇒264.60=
100
5292×R×1
⇒R=
5292
264.60×100
=5%
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