Question

Two equal sums were lent at 5% and 6% per annum ci for 2 years . If the difference in the compound interest wa rupees 422. Find (i) the equal sums (ii) compound interest for each sum

Answer 1

Let the sums be P  

A = P(1 + R/100)^n  


A1 = P(1 + 5/100)^2       

      = 1.1025P  


A2 = P(1 + 6/100)^2       

      = 1.1236P  


P2 – P1 = 422    

1.1236P - 1.1025P = 422  

0.0211P = 422  

P = 20,000  

I)             The equal sums = 20,000 rupees  


II)            Compounds interests
 
a)    0.1025 x 20,000 = 2050 rupees

b)    0.1236(20,000) = 2472 rupees

Answer 2

Answer:

Step-by-step explanation:

Let the sums be P

A = P(1 + R/100)^n

A1 = P(1 + 5/100)^2

= 1.1025P

A2 = P(1 + 6/100)^2

= 1.1236P

P2 – P1 = 422

1.1236P - 1.1025P = 422

0.0211P = 422

P = 20,000

I) The equal sums = 20,000 rupees

II) Compounds interests

a) 0.1025 x 20,000 = 2050 rupees

b) 0.1236(20,000) = 2472 rupees