A sum of money was invested for 3 years. interest being compounded annually. the rates for successive years were 10%, 15% and 18% respectively. if the compound interest for the second year amounted to rs. 4950, find the sum invested.
Answers
Answer:
30,000
Step-by-step explanation:
Given
A sum of money was invested for 3 years. interest being compounded annually. the rates for successive years were 10%, 15% and 18% respectively. if the compound interest for the second year amounted to rs. 4950, find the sum invested.
Let the principal amount be x
So interest for first year = p r t / 100
= x x 10 x 1 / 100
= x / 10
Now principal for second year = x + x / 10
= 11 x / 10
So interest for second year will be = p r t / 100
= 11 x/ 10 x 15 x 1 / 100
= 33 x / 200
So 33 x / 200 = 4950
33 x = 4950 x 200
X = 990000 / 33
X = 30,000
Hence sum invested is Rs 30,000
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Answer: 30,000
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Step-by-step explanation:
Time: 3 years.
Rates: 10%, 15% and 18% respectively.
Let the principal = 'p'
Interest -1st year = p r t / 100
= p *10 * 1 / 100
= p / 10
Principal for 2nd year = p+ p / 10
= 11 p / 10
Intrest for 2nd year = p r t / 100
= 11 p/ 10 x 15 x 1 / 100
= 33 p / 200
So:
33 p / 200 = 4950
33 p = 4950 x 200
p= 990000 / 33
p= 30,000