Question

A certain sum of money amounts to Rs 4410 in 2 years and Rs 4630.50 in 3 years at a certain rate of compound interest. Find out the sum and the rate of interest. Also find by how much percentage is the principal less than the amount in two years.
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Answer 1

Answer:

Sum of money → II year Rs. 4000 → III year Rs. 5000

There is increase of Rs. 1000 in 1 year due to interest

1000= 100/4000×R×1

∴R=25% per annum.

[S.I.= 100/P.R.T ]