Question

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

Answer 1

Step-by-step explanation:

9,826-9,248=578

=578/9826×100

=5.8% rate

so calculate

Answer 2

Answer:

The principle money is Rs 8198.58.

Step-by-step explanation:

Given : A sum of money invested at compound interest amounts to Rs.9,248 in 2 years and to Rs. 9,826 in 3 years.

To find : The sum of money is​ ?

Solution :

Amount compounded in 2 years = Rs.9248

Amount compounded in 3 years = Rs.9826

The simple interest in 1 year is Rs.9826-9248=Rs.578.

The simple interest formula is

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

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

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

$R=6.25\%$

Applying compound interest formula,

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

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

$9248=P(1+0.0625)^2$

$9248=P(1.0625)^2$

$9248=P\times 1.128$

$P=\frac{9248}{1.128}$

$P=8198.58$

Therefore, the principle money is Rs 8198.58.