What sum will amount to 6593.40 in 2 years at ci if the rates are 10% and 11% for the two successive years?
Answers
Answered by
8
Given
p = 6593.40
t =2 years
Here are 2 rates
1. 10%
2. 11%
Solution
1. = PTR/100
= 6593.40*2*10/100
= 6593.40*2/10
= 6593.40/5
= 1318.68
the amount = 6593.40+1318.68 = 7912.08
2. PTR/100
= 6593.40*2*11/100
= 6593.40*11/50
= 1450.548
the amount = 6598.40+1450.548= 8048.948
Answered by
54
Hey mate!
Let the principal be P,
A = Rs.6,593.40, R =10%, 11%, T = 2 yrs
Interest for the 1st yr =PRT/100
= P x 10 x 1/100 =P/10
At the end of the 1st yr,amount will be
= P+P/10 = 11P/10
Interest for the 2nd yr =PRT/100
= 11P/10 x 11 x 1/100=121P/1000 [ here P = 11P/10]
At the end of 2nd yr, amount wil be
= 11P/10+121P/1000
= 1221P/1000
Given that, A = Rs6,593.40,
Therfore, 6,593.40 = 1221P/1000
1221P = 65,93,400
P = 65,93,400/1221 = Rs. 5,400
Hence, the sum = Rs.5,400.
#ty ☺
Let the principal be P,
A = Rs.6,593.40, R =10%, 11%, T = 2 yrs
Interest for the 1st yr =PRT/100
= P x 10 x 1/100 =P/10
At the end of the 1st yr,amount will be
= P+P/10 = 11P/10
Interest for the 2nd yr =PRT/100
= 11P/10 x 11 x 1/100=121P/1000 [ here P = 11P/10]
At the end of 2nd yr, amount wil be
= 11P/10+121P/1000
= 1221P/1000
Given that, A = Rs6,593.40,
Therfore, 6,593.40 = 1221P/1000
1221P = 65,93,400
P = 65,93,400/1221 = Rs. 5,400
Hence, the sum = Rs.5,400.
#ty ☺
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