Question

A sum of money becomes rs 24200 in 2 years and 26620 in 3years. Find the sum and the rate of the intrest

Answer 1

Step-by-step explanation:

A1= P+I1

A2=P+I2

on subtracting eq.1 and 2

A1-A2= I1-I2

Amount in 2year

A= 24200

Amount in 3year

A= 26620

on subtracting

amount of 3year - 2year = interset in 1 year

26620-24200= SI of 1 year

2420= SI

now

Amount = 24200

si of 1 year= 2420

si of 2year = 2420×2

= 4840

principal = A- SI

= 24200-4840

= 19360

SI= 4840

t= 2year

SI= PRT/100

4840= (24200×R×2)/100

4840= 242×2R

4840= 484R

10= R

Hence

P= 19360

R= 10%

#666