Question

if a sum of money increased by 1/5 of itself every year and in 5 years amounts to Rs.8546,find the sum

Answer 1

Answer :

Given : If a sum of money amounts to Rs 2200 in 5 years

Let sum of money = x

And as given : The interest is 3838 of the principal . So we get

x ( 3838 ) = 2200 - x

3x = 17600 - 8x

11x = 17600

x = 1600

So, Sum of money = Rs . 1600

Then interest = 2200 - 1600 = Rs . 600

Let Rate of interest = r %

And we know Simple interest = P × r × t100P × r × t100 , So we get

⇒1600 × r × 5100 = 600⇒16× r × 5100 = 6⇒80r = 600⇒r = 60080 = 152 = 712%⇒1600 × r × 5100 = 600⇒16× r × 5100 = 6⇒80r = 600⇒r = 60080 = 152 = 712%

So

Explanation: