A sum is invested at compound interest payable annually. the inserest in two successive years was 500 and 540
Answers
Answered by
38
For 1st yrs SI =CI
SO S.I. on Rs. 500 for 1 year =
540 - 500= Rs. 40
Now rate of interest =si =PTR/100
R=I/500*100=40/500*100= 8%
SI =PTR/100
500=Px1x8/100
P=500x100/8x1= Rs. 6250
P=6250
SO S.I. on Rs. 500 for 1 year =
540 - 500= Rs. 40
Now rate of interest =si =PTR/100
R=I/500*100=40/500*100= 8%
SI =PTR/100
500=Px1x8/100
P=500x100/8x1= Rs. 6250
P=6250
Answered by
1
Answer:
The sum is Rs.6250which is invested at compound interest annually.
Step-by-step explanation:
Given:
Interest for the first year =Rs. 500
Interest for the second year = Rs. 540
Difference = Rs.540 - 500= Rs.40
Here Rs.40 is the interest on Rs. 500 for 1 yr.
Rate = (S.I ×100 )/ (P× t)
= (40 ×100)/ ( 500×1 )
= 8 % p.a
We know that
Sum = (S.I ×100) / (R×t)
Substituting the values
= (500×100) /( 8 ×1)
= 50000/8= Rs. 6250
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