Question

If a sum becomes Rs. 6,655 in 3 years and Rs. 7,320 in 4 years interest being compounded annually, find the rate of interest and the sum .

Answer 1

Answer:

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Step-by-step explanation:

Let the initial amount of money be P.

A=P(1+100R)T    where R= Rate of Interest and T= Time period.

Amount after 3 years =6500

⇒6500=P(1+100R)3⟶(I)

Amount after 6 years =10,562.5

⇒10562.5=P(1+100R)6⟶(II)

From eq(I),

P6500=(1+100R)3

⇒(P6500)2=(1+100R)6⟶(III)

Putting eq(III) in eq(II)

10562.5=P(P6500)2

⇒10562.5=P×P2

Answer 2

ANSWER-10562.5

EXPLANATION-Let the initial amount of money be P.

A=P(1+100R)T    where R= Rate of Interest and T= Time period.

Amount after 3 years =6500

⇒6500=P(1+100R)3⟶(I)

Amount after 6 years =10,562.5

⇒10562.5=P(1+100R)6⟶(II)

From eq(I),

P6500=(1+100R)3

⇒(P6500)2=(1+100R)6⟶(III)

Putting eq(III) in eq(II)

10562.5=P(P6500)2

⇒10562.5=P×P2

HOPE THIS HELPS.