Question

years at 12% per annum, compounded 2 0. Or what sum of money will compound interest for 2 years at 5 per cent per year amount to 164? . A certain sum amounts to 5292 in 2 years and in 55566 of compound​

Answer 1

Answer:

It is given that

It is given that Amount after 2 years = 5292

It is given that Amount after 2 years = 5292 Amount after 3 years = 5556.60

It is given that Amount after 2 years = 5292 Amount after 3 years = 5556.60 So the difference = 5556.60−5292=264.60

It is given that Amount after 2 years = 5292 Amount after 3 years = 5556.60 So the difference = 5556.60−5292=264.60Here 264.60 is the

Answer 2

Given that  

⇒ Amount after 2 years = 5292  

⇒ Amount after 3 years = 5556.60  

So,

The difference = 5556.60 − 5292 = 264.60

Here,

264.60 is the interest on 5292 for one year  

We know that,

Rate % = (SI × 100)/(P × T)

Substituting the values

= (264.60 × 100)/(5292 × 1)

Multiply and divide by 100

=(26460×100)/(100×5292)

=5%

Here,

A = P = (1 + r/100)ⁿ

Substituting the values

5292 = P(1 + 5/100)²  

 

By further calculation

P = 5292 ÷ (1+5/100)²  

So we get

P = 5292 ÷ (21/20)²

P = 5292 × 21/20 × 21/20

P = 4800

Hence, the rate is 5% and the sum is 4800.