Question

what sum will amount to rs.6593.40 in 2 years at ci if the rates are 10 percent and 11 percent for the two successive year?

Answer 1

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
Hope it helps you

Answer 2

Answer:

Rs 5400

Step-by-step explanation:

Given what sum will amount to rs.6593.40 in 2 years at compound interest if the rates are 10 percent and 11 percent for the two successive years.

We are given A = Rs 6593.40, t = 2 years, R = 10% and 11%

Assuming yearly compounding we have Amount at the end of 1st year, let the principal be P.

 A = P + I

   = P + [P x 10 x 1 / 100]

 A = 1.1 P

For the second year we have

A = 1.1 P + [1.1 P x 11 x 1 /100]

A =  1.1 P + [12.1 P / 100 ]

A = 1.1 P + 0.121 P

A = 1.221 P

P = 6593.4 / 1.221

P = Rs 5400