Question

What will be the amount if sum of 10,00,000 is invested at compound interest for 3 years with rate
1st year is 2% and for the 2nd year is 4%.
223.
interest 11%, 12% and 13% respectively.
24.
A sum invested at compound interest becomes 800 in 3 years and 840 in 4 years. What is​

Answer 1

Answer:

Let the sum of money invested be Rs. x and interest rate per annum =r%

Then x(1+

100

r

)

3

= Rs. 2400........(i)

and x(1+

100

r

)

4

= Rs. 2520........(ii)

Dividing equation (ii) by (i), we get

(1+

100

r

)=

2400

2520

⇒

100

r

=

2400

2520−2400

=

2400

120

⇒r=

20

1

×100=5% p.a.

Step-by-step explanation:

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