Question

interest on certain sum of money increase by 3/25 of its every year and after 2 years its amount equal to Rs 6272 at compound interest of Rs5000 becomes Rs1655?


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Answer 1

Answer:

GIVEN:

Principal = Rs. 5000, R = 10%, A = Rs. 6655

FORMULA USED:

A = P × [1 + R/100]T

CALCULATION:

Applying the formula:

6655 = 5000 × [1 + 10/100]T

⇒ [1.1]T = 6655 / 5000

⇒ [1.1]T = 1.331

⇒ [1.1]T = 1.13

⇒ T = 3

∴ Time period is 3 years

Answer 2

Answer

Given here ,

principal = Rs 5000 ,Rate = 10% Amount = 6655

formula used .

A = P × T

calculation ,

Applying the formula ,

6655 = 5000 × T

T = 6655 / 5000

= 1.331

= 1.13

hence , the time = 3

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