Question

the yearly compound interest on a sum of money in 1 and 2 years are rs 1800 and rs 3816 respectively . calculate the rate of compound interest and the principal​

Answer 1

Step-by-step explanation:

ANSWER

Simple Interest, S.I. = Rs. 1260 = 100 PR×2 = 50 PR -(i)

Compound Interest, C.I. = Amount(A) - Principle(P)=P(1+ 100R) 2 - P = PR(R10000+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