Question

what sum will amount to rupees 2782. 50 in 2 years at the compound interest if the rate are 5% and 6% for the successive years​

Answer 1

Answer:

The sum of money that becomes 2782 in 2 years at a successive interest rate of 5% and 6% respectively is 2500

Step-by-step explanation:

We first need to understand the concept of compound interest.

Compound interest — It implies that the interest earned in the previous year plus the principle will earn interest in the following year.

That is the accumulated amount in the previous year is the principle in the following year.

Now let P be the principle amount then the amount in the first year will be :

P(1. 05)¹ = 1.05P

In the second year the accumulated amount will be :

1.05P(1.06) = 1.113P

This is the total amount after 2 years.

This equals to 2782.50

Equating the two we have :

1.113P = 2782.50

P = 2782.50/1.113

P = 2500

The sum of money is therefore Rupees 2500.

Answer 2

Answer:

Rs 2500

Step-by-step explanation:

What sum will amount to rupees 2782. 50 in 2 years at the compound interest if the rate are 5% and 6% for the successive years​

Let say Principle amount = 100P  Rs

Interest rate for first year = 5%

Interest for 1st Year = 100P * 5 * 1 /100 = 5P  Rs

in compound interest , interest is added into principle

=> Amount after 1st year = 100P +5P = Rs 105P

Interest rate for 2 nd Year = 6%

Interest for 2nd Year = 105P * 6 * 1 / 100 = Rs 6.3P

Amount after 2 nd Year = 105P + 6.3P = Rs 111.3P

111.3P = 2782.5

=> P = 2782.5/111.3

=> P = 25

100P = 2500

Amount = Rs 2500