Question

A certain sum of money amounts to 4838.4 in two years at compound interest.
the rates for the successive years are 8% p.a. and 12% p.a. respectively, find the
sum.​

Answer 1

Answer:

Let, the sum or principal =P.

Given, C.I. =4240, n=2 years, r

1

=10% and r

2

=15%.

∴A=P(1+

100

r

1

)(1+

100

r

2

)

⇒A=P(1+

100

10

)(1+

100

15

)

⇒A=P(

10

11

)(

20

23

)

⇒A=P(

200

253

).......(1)

Also, C.I.=A−P

⇒4240=P(

200

253

)−P

⇒4240=P(

200

53

)

⇒P=16,000

Step-by-step explanation:

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