a sum of money invested at compound interest amounts to RS.9,248 in 2 years and to RS. 9,826 in 3 years . The sum of money is
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a sum of money invested at compound interest amounts to RS.9,248 in 2 years and to RS. 9,826 in 3 years . The sum of money is
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Answer:
The principle money is Rs 8198.58.
Step-by-step explanation:
Given : A sum of money invested at compound interest amounts to Rs.9,248 in 2 years and to Rs. 9,826 in 3 years.
To find : The sum of money is ?
Solution :
Amount compounded in 2 years = Rs.9248
Amount compounded in 3 years = Rs.9826
The simple interest in 1 year is Rs.9826-9248=Rs.578.
The simple interest formula is
Applying compound interest formula,
Therefore, the principle money is Rs 8198.58.
Verified answer
Step-by-step explanation:
9,826-9,248=578
=578/9826×100
=5.8% rate
so calculate