Question

in how many year will 950 amount to 1500 the rate of interest being 2and a half p.ao​

Answer 1

Simple Interest, S.I. = Rs. 1260 =

100

PR×2

=

50

PR

-(i)

Compound Interest, C.I. = Amount(A) - Principle(P)

=P(1+

100

R

)

2

- P = PR(R/10000+1/50)=Rs.1323 -(ii)

Dividing (ii) by (I),

200

R

+1 =

1260

1323

⇒Rate,R=10%p.a.

Now,

100

PRT

=1260

⇒

100

P×10×2

=1260

⇒ Principal or Sum , P = Rs.6,300