compounded at the same rate of intrest, a certain sum of money amount rs 58080 and after 2 years rs 63888 after 3 years, what is the sum?
Answers
Step-by-step explanation:
8th
Maths
Comparing Quantities
Compound Interest
Ifthe compound interest for...
MATHS
Ifthe compound interest for 2 years on a certain sum be Rs 63 and the simple interest for 3 years on the same sum at same rate be Rs 90, then the sum will be
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ANSWER
Given,
Simple Interest for three years is 90
100
P×T×R
=SimpleInterest
100
P×3×R
=90
3PR=9000
P=
R
3000
................EQ(1)
Compound Interest for two years will be 63
P(1+
100
r
)
2
−P=63
⇒P(1+
100
2R
+
10000
R
2
−1)=63
⇒P(
100
2R
+
10000
R
2
)=63
⇒P(
10000
200R+R
2
)=63
⇒P(
10000
200R+R
2
)=63
⇒P(200R+R
2
)=630000
⇒200R+R
2
=
P
630000
⇒200R+R
2
=630000×
3000
R
(TAKING EQUATION FROM SIMPLE INTEREST EQ(1))
⇒200R+R
2
=210R
⇒R
2
=(210R−200R)
⇒R
2
=10R
R=10
Rate will be 10%
As per above equation EQ(1) principal amount will be
10
3000
=300
so sum will be Rs 300