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A Certain Sum of Money Invested at Compound Interest Compounded Annually Amounted to Rs 26,450 in 2 Years and to Rs 30,417.50 in 3 Years. Calculate the Rate of Interest and the Sum Invested.

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प्रश्न

A certain sum of money invested at compound interest compounded annually amounted to Rs 26,450 in 2 years and to Rs 30,417.50 in 3 years. Calculate the rate of interest and the sum invested.

योग
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उत्तर

Here, r =? P = x (say) 

T = 2 years and 3 years 

A= Rs 26,450 in 2 vears and Rs 30,417.50 in 3 years. 

`"A" = "P" (1 + "r"/100)^"n"`

`26450 = "x" (1 + "r"/100)^2`  ........(i)

`30417.50 = "x" (1 + "r"/100)^3` ........ (ii)

Dividing (ii) by (i)

`("x" (1 + "r"/100)^3)/("x" (1 + "r"/100)^2) = 30417.50/26450`


`=> 1+ "r"/100 = 30417.50/26450`


`=>"r"/100 = 30417.50/26450 -1`


`=>"r"/100 = (30417.50 - 26450)/26450`


`=>"r"/100 = 3967.50/26450`


`=> "r" = 3967.50/26450 xx 100`

⇒ r = 15 %

using (i) 

`"x" (1 + "r"/100)^2 = Rs 26450`


`"x" (1 + 15/100)^2` = Rs 26450


`"x"  xx 23/20 xx 23/20` = Rs 26450


`"x" xx 529/400` = Rs 26450


`"x" = "Rs"  (26450 xx 400)/529`

x = Rs 20,000

Hence, rate of interest= 15 % and sum invested =Rs 20,000

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Concept of Compound Interest - Use of Compound Interest in Computing Amount Over a Period of 2 Or 3-years
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