Question

A sum of money invested at compound interesr amt to 9248 in 2 years and to 9826 in 3 years the sum of money is

Answer 1

Answer:

Rs. 8192.

Step-by-step explanation:

Let x be the sum of the money.

S.I on Rs. 9248 for 1 year = Rs. (9826 - 9248) = 578.

Rate = 100 * 578/9248 * 1 = 6.25 % = 6 1/4%.

x(1 + 25/4*100)² = 9248

x(17/16)² = 9248

x = 9248 * 16/17 * 16/17

  = Rs. 8192.

Thus the sum of money = Rs. 8192.