Question

A certain sum of money placed out at compound interest , amounts to Rs.6,272 in 2 years and to 7,024.64 in 3 years . Find the rate of interest and the sum of money .​

Answer 1

$\huge\tt\red{A}\tt\pink{N}\tt\blue{S}\tt\green{W}\tt\purple{E}\tt\orange{R}$

Given

in 2 yr amount =₹6272

In 3 yr amount =₹7024. 64

One is interest=7024.64-6272

=752.64

Interest =pxrxt /100

752.64=6272 x R x 1/100

R=12%

Now

A=p(r+1/100)^t

6272=p(1+12/100)²

6272=p(112/100)²

6272=px1.2544

P=6272/1.2544

P=₹5000

Rate of interest =12%

Sum=₹5000

Answer 2

Answer:

We know that Compound

Interest= Amount−Principal

Amount for 3rd year

Amountfor2ndyearwillbetheinterestfor3rdyear

Amountfor2ndyear will serveas principal for3rd year

Asperproblem7024.64−6272=752.64(compound

interest)