Find the sum invested at 10% compounded annually in which the interest for the third year exceeds the interest of the first year by rs 252.
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Hi!
Let the interest for the first year be x.
Then the interest for the third year is x + 252
By the problem,
x +252 =x (1 +10 /100)^2
=>21x = 25200
=>x =Rs. 1,200
The sum of invested is Rs . 1,200
Hope this helps :)
Let the interest for the first year be x.
Then the interest for the third year is x + 252
By the problem,
x +252 =x (1 +10 /100)^2
=>21x = 25200
=>x =Rs. 1,200
The sum of invested is Rs . 1,200
Hope this helps :)
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