A sum of money amounts to Rs. 2880 in 2 years and 3456 in 3 years at compound interest. Find the sum.
Rs. 2000
Rs. 3000
Rs. 4000
Rs. 2500
Explanation:
Rs. 2880 amounts to Rs. 3456 in one year.
The sum amounts to 34562880=6534562880=65 times of itself
Therefore, Principal = 2880÷(65)2=2880×56×562880÷(65)2=2880×56×56 = Rs. 2000
Rs. 2880 amounts to Rs. 3456 in one year.
The sum amounts to 34562880=6534562880=65 times of itself
Therefore, Principal = 2880÷(65)2=2880×56×562880÷(65)2=2880×56×56 = Rs. 2000