A sum amounts to Rs.2916 in 2 years and to Rs.3149.28 in 3 years at compound interest. The sum is :
Rs.1500
Rs.2000
Rs.2500
Rs.3000
Explanation:
Let P be the principal and R% per annum be rate.
Then P (1+R100)3(1+R100)3=3149.28 ........ (i)
and P (1+R100)2(1+R100)2=2916 ..........(ii)
On dividing (i) and (ii) we get
(1+R100)(1+R100) = 3149.2829163149.282916
or 100=233.282916100=233.282916 or R = 233.282916×100=8%233.282916×100=8%
Now P (1+8100)2=2916(1+8100)2=2916
or P ×2725×2725=2916×2725×2725=2916
or P = 2916×25×2527×272916×25×2527×27=Rs. 2500
Let P be the principal and R% per annum be rate.
Then P (1+R100)3(1+R100)3=3149.28 ........ (i)
and P (1+R100)2(1+R100)2=2916 ..........(ii)
On dividing (i) and (ii) we get
(1+R100)(1+R100) = 3149.2829163149.282916
or 100=233.282916100=233.282916 or R = 233.282916×100=8%233.282916×100=8%
Now P (1+8100)2=2916(1+8100)2=2916
or P ×2725×2725=2916×2725×2725=2916
or P = 2916×25×2527×272916×25×2527×27=Rs. 2500