Question

What principal will amount to 9856 in two years if rate of interest for successive years are 10% and12% respectively? Don't spam or I will report you.

Answer 1

Here is your answer:

Let the Principal was P
for first year, R = 10%
Interest = PTR/100 = P×1×10/100 = 0.1P
Amount at the end of 1st year = P + 0.1P = 1.1P

For 2nd year,
Principal = 1.1P
R = 12%
Interest = PTR/100 = 1.1P×1×12/100 = 0.132P

Amount at the end of 2nd year = 1.1P + 0.132P = 1.232P

It is given that amount is 9856

⇒1.232P = 9856

⇒ P = 9856/1.232

⇒ P = Rs. 8000

Principal was Rs. 8000

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