The compound interest of a certain sum for 2 years is Rs.738 and the simple interest of the same sum for the same interval of time at the same rate of interest is Rs720. Find the sum and the rate of interest.
Answers
Answer: Rate=5%
Principle=7200
Step-by-step explanation:
Here principal is p and rate is r and time is t
Two equation is formed according to question. So the further solving and replacing the equation. Gives us Right answer.
Easy
Answer:
R = 5% and p = Rs. 7,20,000
Step-by-step explanation:
given
CI = 738
S. I = 720
T= 2years
let R= x%
Now,
S. I = pTR\100
720 = p ×2×x\100
720 = px\50
720×50 = px.......(.1)
Again,
C. I = p[(1+R) ^T-1]
= p[ (1+x\100) ^2-1]
= p[ (1+2x\100 + x^2\10000-1]
= p[ (2x\100+ x^2\10000]
= px( 2\100+ x\10000) [px = 720x50]
= 720×50( 2\100+ x \10000)
or, 738 = 36000×2 \100 + 36000x\10000 [ ci = 738]
or 738 = 720+ 36x\10
7380-7200 = 36x
180\36 = x
;. x = 5%
i. e, R=5% [ x= R]
again,
given the value of R put in equation (1) we get
720 x 50 = px5%
36000 = 5p\100
3600000\5 =p
;.720000= p
so, p =Rs.720000