Question

A sum become 12100 rs after 2 years and 13910 after 3 years find rate of CI ?​

Answer 1

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Solution :

Amount=P(1+r100)T

where p is the principal amount, r is the rate of interest and t is the time period.

first,=>882=P(1+r100)2..(1)

also,=>926.10=P(1+r100)3...(2)

dividing (1) by(2)=>we get r=5

substituting value of r=5 in (1) we get P=800