Question

• A certain sum amounts to Rs. 8988.8 in two years and
Rs. 9528.128 in three years, at compound interest
annum. What is the principal and rate of interest?
(a) Rs. 12,000, 5% (b) Rs. 6,000, 8%
(C) Rs. 8,000, 6% (d) Rs. 10,000, 8.5%​

Answer 1

Answer:

a RS 12 000 5% it is the answer

Answer 2

Let P be the principal amount and X be 1 + (rate of interest/100)

Since it is compound interest:

P*X*X= 8988.80 ₹. (Eqn 1)

P*X*X*X= 9528.128 ₹. (Eqn 2)

Divide Eqn 2 by Eqn 1, we get

X=1.06

Therefore l,

Rate of interest= 6%

Putting X in any Eqn. We get P= 8000 ₹

Option C is the right amswer.