Ajay income during a year was ₹1,67,489. next year,his income increased by ₹ 38,798. what was his increased income ? how much did he earn in the two years ?
Answers
p = 6593.40
t =2 years
Here are 2 rates
1. 10%
2. 11%
Solution
1. = PTR/100
= 6593.40*2*10/100
= 6593.40*2/10
= 6593.40/5
= 1318.68
the amount = 6593.40+1318.68 = 7912.08
2. PTR/100
= 6593.40*2*11/100
= 6593.40*11/50
= 1450.548
the amount = 6598.40+1450.548= 8048.948
Hope it helps you
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knjroopa Ace
Answer:
Rs 5400
Step-by-step explanation:
Given what sum will amount to rs.6593.40 in 2 years at compound interest if the rates are 10 percent and 11 percent for the two successive years.
We are given A = Rs 6593.40, t = 2 years, R = 10% and 11%
Assuming yearly compounding we have Amount at the end of 1st year, let the principal be P.
A = P + I
= P + [P x 10 x 1 / 100]
A = 1.1 P
For the second year we have
A = 1.1 P + [1.1 P x 11 x 1 /100]
A = 1.1 P + [12.1 P / 100 ]
A = 1.1 P + 0.121 P
A = 1.221 P
P = 6593.4 / 1.221
P = Rs 5400
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