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 . hey daksh​

Answer 1

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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 . hey daksh?

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Let it be,

Let the initial amount of money be P.

A=P(1+ 100 R )T

Rate of Interest :

where R= Rate of Interest and T= Time period.

Amount after 3 years =6500

⇒6500=P(1+ 100 R ) 3

⟶(I)

Amount :

Amount after 6 years =10,562.5

⇒10562.5=P(1+ 100 R ) 6

⟶(II) From eq(I),

P 6500

=(1+ 100 R ) 3

⇒( P 6500 ) 2 =(1+ 100 R )

Step by step explanation :

⟶(III) Putting eq(III) in eq(II)

10562.5=P( P 6500 ) 2

⇒10562.5=P× P 2 (6500) 2

⇒P= 10562.5 (6500) 2 =4000

Hence, the initial amount of money is equal to Rs. 4000.

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$\sf\red{Thank\:you!}$

Answer 2

Let it be,

Let the initial amount of money be P.

A=P(1+ 100 R )T

Rate of Interest :

where R= Rate of Interest and T= Time period.

Amount after 3 years =6500

⇒6500=P(1+ 100 R ) 3

⟶(I)

Amount :

Amount after 6 years =10,562.5

⇒10562.5=P(1+ 100 R ) 6

⟶(II) From eq(I),

P 6500

=(1+ 100 R ) 3

⇒( P 6500 ) 2 =(1+ 100 R )

Step by step explanation :

⟶(III) Putting eq(III) in eq(II)

10562.5=P( P 6500 ) 2

⇒10562.5=P× P 2 (6500) 2

⇒P= 10562.5 (6500) 2 =4000

Hence, the initial amount of money is equal to Rs. 4000.

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