Question

A certain sum amounts to Rs 5292 in two years and Rs 5556.60 in three years,

interest being compounded annually. Find:

i) The rate of interest

ii) The original sum



sove in paper​

Answer 1

Answer:

i) 5%

ii) 4800

Step-by-step explanation:

A = P(1+i)^n

5292 = P(1+i)²

5556.6 = P(1+i)³

(1+i) = 5556.6 ÷ 5292 = 1.05

i = 1.05-1 = 0.05 = 5%

Consider , 5292 = P(1+0.05)²

5292 = 1.1025 P

P = 5292 ÷ 1.1025

P = 4800