Question

a sum of money invested at the compound interest payable yearly has interest in 2 years and 3 years are rs.5200 and rs.8282 resvectively. find the rate of interest and principal.

Answer 1

Answer:

so here,

5200=p (1+r)^2

8282=p(1+r)^3

8282/5200=1+r

1+r=1.6

r=.6

r=6%

so ,

5200=p (1+.06)^2

5200=p (1.06)^2

5200=p (1.1236)

p=5200/1.1236

p=4628

here p=4628 and r=6%