Question

A sum invested at CI amounts to 8800 in 1 year and Rs. 10648 in 3 years. Calculate the rate percent and the sum

Answer 1

Answer:

Step-by-step explanation:

Given

8800=P(1+r/100)...........a

10648=P(1+r/100)^3...........b

Dividing b/a, we get

10648/8800 =(1+r/100)^2

=>121/100=(1+r/100)^2

=>1+r/100=11/10

=>r/100=1/10

=>r=10

Putting r in a , we get

8800=P(1+10/100)

=>P=8800*10/11

=>P=8000