Question

A sum of money invested at 15% per annum amounts to ₹5200 in 2 years.What will be the amount in 4 years at the rate of 16% per annum.​

Answer 1

The amount will be ₹7119.34

Step by step explanation:

Formula:-

$A=P(1+r)^t$

A sum of money invested at 15% per annum amounts to ₹5200 in 2 years.

A = 5200, r = 0.15, t = 2 years

$5200=P(1+0.15)^2$--------(1)

A sum of money invested at 16% per annum for 4 years.

let amount be A

$A=P(1+0.16)^4$-----------(2)

Divide both equation

$\dfrac{A}{5200}=\dfrac{1.16^4}{1.15^2}$

$A=5200\times \dfrac{1.16^4}{1.15^2}$

$A=7119.34$

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