Question

A certain sum of money amounts to 10880 in 3 years and 11840 in 4 years find the principle and rate?​

Answer 1

Answer:

12 %

Step-by-step explanation:

p+prt/100 = 10880

p(1+ 3r/100) = 10880 .....(1)

Also, p(1+ 4r/100) = 11840 ....(2)

(1)/(2) :-

(1+ 3r/100) = 10880

------------------ ----------

(1+ 4r/100) 11840

11840+11840*3r/100=10880*(1+ 4r/100)

11840+1184*3r/10

= 10880 + 1088*4r/10

11840 - 10880 = 1088*4r/10-1184*3r/10

9600 = 800r

r = 96/8 = 12

p = 10880/(1+3r/100)

= 10880/(1+36/100)

= 1088000/136

= 8000