On a certain sum ,the compound interest in 2 years amounts to 4240 .if the rates of interest for succesive years are 10% and 15% respectively ,find the sum
Answers
Answered by
1
Answer:
Let, the sum or principal =P.
Given, C.I. =4240, n=2 years, r
1
=10% and r
2
=15%.
∴A=P(1+
100
r
1
)(1+
100
r
2
)
⇒A=P(1+
100
10
)(1+
100
15
)
⇒A=P(
10
11
)(
20
23
)
⇒A=P(
200
253
).......(1)
Also, C.I.=A−P
⇒4240=P(
200
253
)−P
⇒4240=P(
200
53
)
⇒P=16,000
Answered by
4
answer
p = $ 16000
Step-by-step explanation:
CI =P[(1+r1/100) (1 +r2/100)-1]
4240=P[(1+10/100) (1+15/100)-1]
4240=P[(100+10/100) (100+15/100)-1]
4240=P[110/100) (115/100)-1]
4240=P[11/10) (23/20)-1]
4240=P[11x23/10x20)-1]
4240=P[253-200/200]
4240x200/53=P
P= $16000
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