Question

A sum invested at Compound interest amounts
to 8800 in 1 year and to 10648 in 3 years.
Calculate the rate and the sum.​

Answer 1

$\fontsize{18}{10}{\textup{\textbf{The required sum is 8000}}}$

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

Answer 2

Answer:

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