A sum of money amount to 1210 in 2 year and to 1610.51 in 5 year . find the principal and interest
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Answer:
The principal amount is Rs 3800 and the rate of interest is 31.57%
Given:
Given that A1 = 6200 and T1 = 2
A2 = 7400 and T2 = 3
To find:
We have to find the principle and rate of interest.
Solution:
We have to find the principle and rate of interest.
The formula is,
Given that,
A1=Rs. 6200 and T1=2
A2=Rs. 7400 and T2=3
Substitute the values in formula
By solving equations 1 and 2
We get,
Substitute PR in equation 1
Substitute P in equation 3
Answered by
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Answer:
amount after 2 yrs =1210
time =2 yrs
amount after 5 yrs=1610.51
time=5 yrs
see in pic
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