# A certain sum of money amounts to Rs5292 in 2years and Rs5556.50 in 3years, interest being compounded annually, Find the rate percent and the sum

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by sibAhuja

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by sibAhuja

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For the third year,

P = 5292

SI = 5556.50 - 5292 = 264.5

t = 1 year

SI = Ptr/100

⇒ 264.5 = 5292×1×r/100

⇒ r = (264.5×100)/5292 = 5%

5292 = P(1+ 5/100)²

⇒ 5292 = P(1.05²)

⇒ P = 5292/1.05²

⇒ P = 4800

Sum = Rs. 4800

rate = 5%

P = 5292

SI = 5556.50 - 5292 = 264.5

t = 1 year

SI = Ptr/100

⇒ 264.5 = 5292×1×r/100

⇒ r = (264.5×100)/5292 = 5%

5292 = P(1+ 5/100)²

⇒ 5292 = P(1.05²)

⇒ P = 5292/1.05²

⇒ P = 4800

Sum = Rs. 4800

rate = 5%

Principle (P) = Rs. 5292

Simple Interest (SI) = Rs. (5556.50 - 5292) = Rs. 264.5

time (t) = 1 year

SI = (P×t×r)÷100

⇒ 264.5 = (5292×1×r)÷100

⇒ r = (264.5×100)÷5292 = 5%

5292 = P(1+ 5/100)²

⇒ 5292 = P(1.05²)

⇒ P = 5292/1.05²

⇒ P = 4800

Amount = Rs. 4800

Rate of Interest per annum= 5%