Question

a sum of rs 24000 invested for 2 years at compound intrest amounts to rs. 26760 at the end of first year .Then what will be the amount at the end of second year​

Answer 1

Amount at the end of 1 year=Principal+Interest

Interest=

100

PRT

=

100

24000×1×10

=Rs.2400

∴Amount at the end of 1 year=24000+2400=Rs.26400

Interest for the 2 year=

100

26400×10×1

=Rs.2640

Amount at the end of 2 year=26400+2640=Rs.29040

Let he return Rs.x at the end of first year

∴29040−x=12540

⇒x=29040−12540

⇒x=Rs.15000

Answer 2

Answer:

Amount at the end of 1 year=Principal+Interest

Interest=

100

PRT

=

100

24000×1×10

=Rs.2400

∴Amount at the end of 1 year=24000+2400=Rs.26400

Interest for the 2 year=

100

26400×10×1

=Rs.2640

Amount at the end of 2 year=26400+2640=Rs.29040

Let he return Rs.x at the end of first year

∴29040−x=12540

⇒x=29040−12540

⇒x=Rs.15000