Question

A sum of money invested at compound
interest amounts to * 9,248 in 2 years
and to 9,826 in 3 years. The sum of money is ?​

Answer 1

Answer:

19074

Step-by-step explanation:

you have asked only total money sum

so, you have to take both compound interest amount and add them

then, first interest 9248 + second interest 9826 = 19074

Answer 2

Answer:

Rs 8192

Step-by-step explanation:

When compounded for 2 years a sum of money was amounted to Rs 9248.

That sum of money amounted to Rs 9826, when compounded for 3 years.

So, simple interest for 1 year (3-2) = Rs 9826- 9248

= Rs 578

Now, The rate of interest can be calculated from the formula of :

S.I = (P ×R × T)/100

578= (9248 × R×1)/100

57800= 9248R

R= 57800/9248

R= 6.25%

Now, from the formula of compound interest, we can find out the principle:

A= P(1+R/100)^n

9248= P (1+6.25/100)^2

9248= P (106.25/100)^2

9248×100×100= 106.25 ×106.25 ×P

P= 92480000/11289.06

P= 8192.00

Therefore the principle money is Rs 8192.