Question

Two equal sums were lent at 5% and 6% per annum compound interest for 2 years. If

the difference in the compound interest Rs 422, find

i) The equal sums

ii) Compound interest for each sum.​

Answer 1

Answer:

2050 and 2472

Step-by-step explanation:

Hey mate

Here's your answer

for 1st sum

p=p , r=5% , t=2years

a=p(1+r/100)n

a=p(1+5/100)2

a=(21/20)2 p

ci=a-p

ci=(21/20)2 p-p

ci=p{(21/20)2-1}

for 2nd sum

p=p , r=6% , t=2years

a=p(1+r/100)n

a=p(1+6/100)2

a=(53/50)2 p

ci=a-p

ci= {(53/50)2 p-p}

ci=p{(53/50)2 -1}

difference =ci of 2nd sum - ci of 1st sum

422=p{(53/50)2 -1} - p{(21/20)2 -1}

422=p{(53/50)2 -1 -(21/20)2 +1}

422=p{2809/2500 - 441/400}

422=p{211/10000}

p=422* 10000/211

p=20000

ci for 1st sum = p{(21/20)2 -1}

ci=20000(441/400 -1)

ci=20000*41/400

ci=2050

ci for 2nd sum = p{(53/50)2 -1}

ci =20000(2809/2500 -1)

ci =20000*309/2500

ci =2472

Hope it helps