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CBSE Class 9 Answered

A sum of money if invested at CI for 2 years amounts to ₹57,600 and ₹65,536 in 4 years. Find the rate and the sum.   
Asked by Shahlasultana19 | 29 Nov, 2018, 03:14: PM
answered-by-expert Expert Answer
Let sum of money be Rs. P.
According to the question,
P(1 + i)2 = 57600.........(i)
P(1 + i)4 = 65636.......(ii)
Dividing (ii) by (i)
(1 + i)2 = 1.1377
1 + i = 1.066
i = 6.6% p.a.
Find P using (i) equation.
Answered by Sneha shidid | 29 Nov, 2018, 06:15: PM

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