Question

A sum of money amounts to 19500 in 5 years and 22,200 after 8
years, at the same rate of interest. Find the rate of interest. Also find
the principal​

Answer 1

Answer:

19500=5 years just chick it once hope it is correct follow me plz..

Answer 2

The rate of interest is 4.1% and sum is Rs. 15950.74.

Step-by-step explanation:

Since we have given that

Amount in 5 years = Rs. 19500

Amount in 8 years = Rs. 22200

According to question, we get that

$\dfrac{22200}{19500}=\dfrac{P(1+\dfrac{r}{100})^8}{P(1+\dfrac{r}{100})^5}\\\\1.14=(1+\dfrac{r}{100})^3\\\\1.04=1+\dfrac{r}{100}\\\\1.041-1=\dfrac{r}{100}\\\\0.041=\dfrac{r}{100}\\\\0.041\times 100=r\\\\4.1\%=r$

Hence, rate of interest would be 4.1%.

So, Sum is given by

$19500=P(1+\dfrac{r}{100})^5\\\\19500=P(1+\dfrac{4.1}{100})^5\\\\19500=P(1+0.041)^5\\\\19500=P(1.041)^5\\\\P=\dfrac{19500}{(1.041)^5}\\\\P=15950.74$

Hence, the rate of interest is 4.1% and sum is Rs. 15950.74.

# learn more:

If rupees 15000 amounts to rupees 19500 in 3 years find the sum that will amount to rupees 34300 in 4 years at the same rate of interest per annum

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