Question

the interest charged on a certain sum is rs 720 for one year and rs 1497.60 for two years calculate rate percent and sum.

Answer 1

ok here see carefully , they have nt given whether it is simple or compound interest. but we can say that it is compound interest. because    in simple interest ----  interest for a single year always remain constant
  here  only  1 st year   interest = 720 rs
            only  2 nd year  interest = 1497-720 =777 rs
  here  1st year interest and 2nd year interest are not same so compunded

in compund interest we calculate interest for the interest occured in first year also which is equal  to difference between them
the difference between interest  in first and second year are   777-720=57rs
 so for     rs 720 it incurred  rs 57 as interest
  I=P*N*R/100
 i= 57
p=720
n= 1
r= 57*100/(1*720) = 7.916%
 
now lets see about main sum of money which had interests
 let it be X
 now interest for first year is 720
P=X
I=7.916
N= 1 YEAR
 
 720= X*1*7.916/100
                  X=720*100/7.916
                   X=9095.5
  so the total amount  is   9095.5
    and rate of interest is  7.916
                   

Answer 2

Answer:

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