A certain sum amounts to rupees17640 in 2 years and to rupees 18522 in 3 years at compound interest . find the rate and sum.
Answers
Answered by
24
Answer:
hiii
your answer is here !
Step-by-step explanation:
The difference of two successive amounts must be the simple interest in 1 year on
the lower amount of money.
S.I = 18522/- - 17640/- = Rs. 882/-
Rate of interest = (882/17640) × (100/1) => 8820/1764 = 5%
Principal = Amount/(1 + R/100)n
= 17640/(1 + 5/100)2
= 17640/(21/20 × 21/20)
= 17640/(1.05 × 1.05)
= 17640/1.1025
= 16000
Thus the principal is Rs.16000/- and the rate of interest is 5%
follow me !
Similar questions