Question

What sum will amount to Rs.6593.40 in 2 years at C.I.,if rates are 10 percent and 11 percent for the two successive years​

Answer 1

Solution :-

→ Let Principal = Rs. P

→ Rate for 1st year = 10%

→ Rate for 2nd year = 11%

→ Amount after 2 year = Rs.6593.40

So,

→ Amount = Principal * (1 + R1/100) * (1 + R2/100)

→ 6593.4 = P * (1 + 10/100) * (1 + 11/100)

→ 6593.4 = P * (11/10) * (111/100)

→ P = (65934 * 100) / (11 * 111)

→ P = Rs.5400 (Ans.)

Therefore, Required sum is Rs.5400.