Question

Example 10. A sum lent on compound interest becomes 2420 in 2 years and
the sum.
2662 in 3 years. Find the sum. ​

Answer 1

Answer:

Step-by-step explanation:

Amount in 2 years = Rs.2420

Amount in 3 years = Rs.2662

Interest for one year for Rs.2420 is 2662-2420 = Rs.242

I = Rs.242, P = Rs.2420

R=100×IPN=100×2422420=10%

Compound Inteerest A = P(1+r100)n

2420=P(1+10100)2

= P(1110)2=P×121100

P = 2420×100121=Rs.2000