Question

A certain sum of many amounts to 10584 in two years and to 11113.20 in three years, interest being compounded annually. find the interest rate percent and the original sum​

Answer 1

Answer:

For ,

N=3 years

R=10% 

We have Amount=P+S.I.=P+100PNR=Rs.23,400

=>P+100P×3×10=23,400

=>1.3P=Rs.23,400

=>P=Rs.18,000

And on interest being compounded for 2 years, at R=10 % Amount=P(1+100R)N=18,000×(1+10010)2=18,000×1.12=Rs.21,780

Step-by-step explanation:

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Answer 2

Answer:

$amount \: in \:2 \: years = Rs10584$

$amount \: in \: 3 \: years =Rs11130.20$

$=> rs(11130.20 - 10584) = Rs546.20$

Rs 546.30 is the interest of 1 year on Rs 10584.

$rate\% = \frac{546.20 \times 100}{10584 \times 1} \%$

$= 5.16\%$

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