Question

Two equal sums were lent at 5% and 6% p.a. compound interest for two years.if the diffrence in the compund interest was 422 find. 1) the equal sums. 2)compound interest for second sum

Answer 1

1.₹20000 is the sum. 2.₹2472 is the c. I. of 6%rate

Answer 2

Answer:

Step-by-step explanation:

First case, C.I for two year on sum P (C1) = P * (1+r/100) - P = P * (1+5/100) - P

Second case, C.I for two year on sum P (C2) = P * (1+r/100) - P = P * (1+6/100) - P

Now,

C2 - C1 = P * (1+5/100)² - P - ( P * (1+6/100)² - P) = 422

P * (21/20)² - 1) - ( 53/50)² - 1) = 422

P * (441 - 400)/ 400) - (2809 - 2500) / 2500 = 422

P * (41/400) - 309/2500) = 422

On solving this equation you can find out the sum P and compound interest for second sum.