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Question
What sum will amount of Rs. 6,593.40 in 2 years at C.I. , if the rates are 10 per cent and 11 per cent for the two successive years ?
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Solution
Let principal (p) = Rs. 100
For 1st year :
P = Rs. 100
R = 10%
T = 1 year
I = `[100 xx 10 xx 1 ]/100` = Rs. 10.
A = 100 + 10 = Rs. 110
For 2nd year :
P = Rs. 110
R = 11%
T = 1 year
I = `[110 xx 11 xx 1 ]/100` = Rs. 12.10.
A = 110 + 12.10 = Rs. 122.10
If Amount is Rs. 122.10 on a sum of Rs. = 100
If amount is Rs. 1, sum = `100/122.10`
If amount is Rs. 6593.40, sum = `100/122.10 xx 6593.40` = Rs. 5400
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