Question

when intrest is compounded anully certain sum becomes rs 882 in 2 years and rs 926.10 in 3 years.find the sum and the rate of intrest per annum.

Answer 1

Answer:

Sum = ₹ 800

Sum = ₹ 800Rate = 5%

Step-by-step explanation:

In 3 years amount = ₹ 926.10 [ P+ 3 years interest]

In 2 years amount = ₹ 882.00 [ P+ 2 years interest]

substrate

= ₹ 44.10

882 gives a interest of 44.10 in one year

R= 44.10× 100/ 882 = 5%

Now,

P ( 1+5/100)^2 = 882

P× 441/ 400 = 882

P = ₹ 800