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A certain sum of money placed out at compound interest , amounts to Rs.6,272 in 2 years and to 7,024.64 in 3 years . Find the rate of interest and the sum of money . |
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Answer» 2 yr amount =₹6272In 3 yr amount =₹7024. 64One is interest=7024.64-6272=752.64Interest =pxrxt /100752.64=6272 X R x 1/100R=12%NowA=p(r+1/100)^t6272=p(1+12/100)²6272=p(112/100)²6272=px1.2544P=6272/1.2544P=₹5000Rate of interest =12%Sum=₹5000 |
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