Question

A sum of money amounts to Rs. 500 in 2 years and Rs. 540 in 3 years at C.I per annum. Find the (i) sum, and (ii) rate per cent.

Answer 1

Answer:

let the sum of money be Rs.p and rate of interest be R%p.a

Then ,500=p(1+R/100)²____ (1)

and 540=p(1-R/100)³_____(2)

dividing (2)by(1),we get

540/500=1+R/100

≈R=8%p.a

by (1) ,500×(25/27)²=Rs.428.67

I hope it's helpful ✌️✌️