Question

A sum of money invested at compound intrest amounts to 16500 in 1 year and to 19965 in 3 years . Find the rate per cent and the original sum of money.

Answer 1

Answer:

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Answer 2

Answer:

15000 is the principal and rate is 10 %

Step-by-step explanation:

As we know that interest for one year is same on simple as well as compound interest

so

p= 15000

rate = 10%

first years amount is 15000+ 1500 = 16500

now again 10 % of 16500

= > 16500 + 1650

= 18150

now third years

10 % of 18150 + 18150(principles for third year)

= 19965