Question

If a certain sum of money becomes rs 8000 in 2 years and rs 27000 in 5 years.Find the principal

Answer 1

Answer:

3555.56

Step-by-step explanation:

Let us assume that x is the sum of money which is compounded at interest r%.

Then , after 2 years the amount becomes $x(1+\frac{r}{100} )^{2} =8000$ {Given} ...... (1)

Again, after 5 years the amount becomes $x(1+\frac{r}{100} )^{5} =27000$ {Given} ...... (2)

Now, dividing equation (2) by (1), we get

$(1+\frac{r}{100} )^{3} =\frac{27}{8}$

⇒ ($1+\frac{r}{100}$) =$\frac{3}{2}$

⇒$\frac{r}{100} =\frac{1}{2}$

= r=50%.

Now, from equation (1), we get x$(1+0.5)^{2}$=8000

⇒ $x=\frac{8000}{2.25}$

⇒ x=3555.56. (Answer)