Question

A sum of money invested at compound
interest amounts to 9248 in 2 years
and to 9826 in 3 years. The sum of
money is​

Answer 1

Answer:

money invested in 2 years = 9248

". ". ". 3 ". = 9826

the sum = 01974

Answer 2

Answer:

The Principle money is Rs.8198.58

Given Data:

Amount compounded in 2 years = Rs.9248

Amount compounded in 3 years = Rs.9826

T=1

Step 1:

Simple interest in one year=Rs.9826-9248=Rs.578.  

The Simple Interest Formula,

Substitute the value of P,T and SI in the below formulae:

SI= $\frac{p \times R \times T}{100}$

578= $\frac{9248 \times R \times 1}{100}$

R=$\frac{57800}{9248}$

R=6.25%

Step 2:

Applying Compound Interest Formulae

A=$\mathrm{P}\left(1+\frac{R}{100}\right)^{t}$

9248= $\left(1+\frac{6.25}{100}\right)^{2}$

9248=P$(1.0625)^{2}$

9248=P $\times$ 1.128

P =$\frac{9248}{1.125}$

P=8198.58

The Principle money is Rs.8198.58.