Question

A sum of Rs. 24,000 is lent out for 2 years at compound interest, the rates of interest being 10% for the first year and 12% for the second year. The borrower returns some money at the end of the first year and on paying Rs. 12,768 at the end of the second year the total debt is cleared. Calculate the amount of money returned at the end of the first year.  
Q2. A sum is invested at compound interest compounded yearly. If the interest for two successive years is Rs. 570 and Rs. 741, calculate the rate of interest.
A sum is invested at compound interest compounded yearly. If the interest for two successive years is Rs. 570 and Rs. 741, calculate the rate of interest.
Pls answer quick.

Answer 1

Answer:

P= Rs. 24,000; R=10% and T= 1 year

Intrest= 24,000*10*1 = 2,400

                   100

Interest equals Rs. space fraction numerator 24 comma 000 cross times 10 cross times 1 over denominator 100 end fraction equals Rs. space 2 comma 400

Principal for 2nd year = Rs. 24,000 + Rs. 2,400= Rs. 26,400

For 2nd year

Let P=Rs100; R=12% and T= 1 year

Amount at the end of 2nd year = Rs. 100 + 12% of Rs. 100 = Rs. 112

When amount for 2nd year is Rs. 112, then principal is Rs. 100

When amount for 2nd year is Rs. 12,768, then principal

= 100*12,768

         112

= Rs. 11,400

Amount of money returned at the end of 1st year

= Rs. 26,400 - Rs. 11,400

= Rs. 15,000

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