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A sum on compound interest amounts to Rs. 5618 in 2 years and Rs. 5786.54 in 3 years. Find the sum.
- ARs. 4825
- BRs. 5156.50
- CRs. 5285
- DRs. 5295.50
Answer not set
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CCommunity
Interest on Rs. 5618 in 1 year = Rs. (5786.54 - 5618) = Rs. 168.54
Rate $(= \frac{{{\rm{S}}.{\rm{I}}.{\rm{\;}} \times {\rm{\;}}100{\rm{\;}}}}{{{\rm{P\;}} \times {\rm{\;T}}}} = \frac{{168.54{\rm{\;}} \times {\rm{\;}}100{\rm{\;}}}}{{5618{\rm{\;}} \times {\rm{\;}}1}} = 3{\rm{\% \;p}}.{\rm{a}}.)$
Let the sum be Rs. y.
Amount in 2 years = $({\rm{y}}{\left( {1 + 3/100} \right)^2} = 5618)$
By solving, we get
Sum, y = Rs. 5295.50
Rate $(= \frac{{{\rm{S}}.{\rm{I}}.{\rm{\;}} \times {\rm{\;}}100{\rm{\;}}}}{{{\rm{P\;}} \times {\rm{\;T}}}} = \frac{{168.54{\rm{\;}} \times {\rm{\;}}100{\rm{\;}}}}{{5618{\rm{\;}} \times {\rm{\;}}1}} = 3{\rm{\% \;p}}.{\rm{a}}.)$
Let the sum be Rs. y.
Amount in 2 years = $({\rm{y}}{\left( {1 + 3/100} \right)^2} = 5618)$
By solving, we get
Sum, y = Rs. 5295.50