A sum amounts to rs 18600 after 3 years and to 27900 after 6 years, at a certain rate percent p.A. When the interest compounded annually. The sum is
Answers
Answer:
principal P=Rs.9300
Rate of interest R =33 1/3%
Step-by-step explanation:
A sum amounts to rs 18600 after 3 years and to 27900 after 6 years, at a certain rate percent p.A. When the interest compounded annually. The sum is Rs 12400
Solution:
The formula for amount when compounded annually is given as:
Where, P is the principal sum
R is the rate of interest
T is the number of years
Let the sum be Rs "x" and rate be "R"
Given that sum amounts to Rs 18600 after 3 years. Hence we frame equation as:
---- eqn 1
Also given that the sum amounts to Rs 27900 after 6 years. Hence the equation is:
---- eqn 2
Dividing eqn 2 by eqn 1 we get,
Thus sum is Rs 12400
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