Question

when a certain sum of money is invested for 2yrs @20p.c.p.a compound interest its amounts to rs 3744had the rate of interest been 10%what would have been the amount received after 2years?​

Answer 1

Answer:

The amount recived after 2 years is 8000

Explanation:

It is given that  

CI for 2 years = 1331.20

SI for 2 years = 1280  

So the difference = 1331.20 - 1280 = 51.20

Here 51.20 is the simple interest on 1280/2 = 640 for one year

We know that  

Rate = (SI×100)/(P×t)

Substituting the values  

=(51.20×100)/(640×1)

Multiplying and dividing by 100  

=(5120×100)/(100×640)

= 8% p.a.  

So the SI for two more years at the rate of 8% p.a.  

Sum =(SI×100)/(r×t)

Substituting the values  

=(1280×100)/(8×2)

= 8000