Question

A sum of money becomes 1800 in
5 years and 2700 in 10 years interest is compounded annually. Find
the sum.

Explain with full solution.
​

Answer 1

Difference b/w 10th yr interest n 5th yr interest is 2700-1800 = 900

then we have to find out 900 is how much % on 1800 then we will get rate of interest

1800*x/100=900

x=42*100/1800

x=42/18

X=2.333333%

Answer 2

Answer:

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