Question

a sum of money invested at compound interest amounts to 1218.99 at the end of 5 years and to 1267.37 at the end of 7 years find the principal and the rate of interest​

Answer 1

Step-by-step explanation:

Amount for 4 years =Rs.23425.50

Amount for 2 years =Rs.19360

Let the rate of interest =R %

A=P(1+

100

R

)

T

23425.50=19360(1+

100

R

)

2

⇒(1+

100

R

)

2

=

19360

23425.50

⇒(1+

100

R

)

2

=

100

121

⇒1+

100

R

=

10

11

⇒

100

R

=

10

1

⇒R=10%

Now Amount = Rs. 19360, R=10 %, Time =2 years

19360=P(1+

100

10

)

2

⇒19360=P(

10

11

)

2

⇒P=

11×11

19360×10×10

⇒P=Rs.16000

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