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A sum of money RS 30000 in 2 years and RS 33000 in 3 years.Fund the principal and the rate of interest percent per year? ?
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A sum of money RS 30000 in 2 years and RS 33000 in 3 years.Fund the pr...
Given information:
Principal (P) = Rs 30000
Amount after 2 years (A2) = Rs 33000
Time (T2) = 2 years
Amount after 3 years (A3) = Rs 33000
Time (T3) = 3 years
Calculating the rate of interest:
To find the rate of interest (R), we can use the formula:
A = P(1 + R/100)^T
Where:
A is the amount after T years.
For 2 years:
Using the given values, we have:
33000 = 30000(1 + R/100)^2
For 3 years:
Using the given values, we have:
33000 = 30000(1 + R/100)^3
Solving the equations:
To find the value of R, we can solve the above two equations simultaneously.
Using substitution method:
From equation 1, we get:
(1 + R/100)^2 = 33000/30000
Taking square root on both sides:
1 + R/100 = sqrt(33000/30000)
1 + R/100 = 1.05
R/100 = 1.05 - 1
R/100 = 0.05
R = 0.05 * 100
R = 5
So, the rate of interest is 5% per year.
Calculating the principal:
Now, we can substitute the value of R into any of the equations to find the principal (P).
Using equation 1:
33000 = P(1 + 5/100)^2
33000 = P(1 + 0.05)^2
33000 = P(1.05)^2
33000 = P(1.1025)
P = 33000/1.1025
P = 29886.93
So, the principal is approximately Rs 29886.93.
Summary:
- The rate of interest is 5% per year.
- The principal is approximately Rs 29886.93.
Principal (P) = Rs 30000
Amount after 2 years (A2) = Rs 33000
Time (T2) = 2 years
Amount after 3 years (A3) = Rs 33000
Time (T3) = 3 years
Calculating the rate of interest:
To find the rate of interest (R), we can use the formula:
A = P(1 + R/100)^T
Where:
A is the amount after T years.
For 2 years:
Using the given values, we have:
33000 = 30000(1 + R/100)^2
For 3 years:
Using the given values, we have:
33000 = 30000(1 + R/100)^3
Solving the equations:
To find the value of R, we can solve the above two equations simultaneously.
Using substitution method:
From equation 1, we get:
(1 + R/100)^2 = 33000/30000
Taking square root on both sides:
1 + R/100 = sqrt(33000/30000)
1 + R/100 = 1.05
R/100 = 1.05 - 1
R/100 = 0.05
R = 0.05 * 100
R = 5
So, the rate of interest is 5% per year.
Calculating the principal:
Now, we can substitute the value of R into any of the equations to find the principal (P).
Using equation 1:
33000 = P(1 + 5/100)^2
33000 = P(1 + 0.05)^2
33000 = P(1.05)^2
33000 = P(1.1025)
P = 33000/1.1025
P = 29886.93
So, the principal is approximately Rs 29886.93.
Summary:
- The rate of interest is 5% per year.
- The principal is approximately Rs 29886.93.
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A sum of money RS 30000 in 2 years and RS 33000 in 3 years.Fund the principal and the rate of interest percent per year? ?
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A sum of money RS 30000 in 2 years and RS 33000 in 3 years.Fund the principal and the rate of interest percent per year? ? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about A sum of money RS 30000 in 2 years and RS 33000 in 3 years.Fund the principal and the rate of interest percent per year? ? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money RS 30000 in 2 years and RS 33000 in 3 years.Fund the principal and the rate of interest percent per year? ?.
A sum of money RS 30000 in 2 years and RS 33000 in 3 years.Fund the principal and the rate of interest percent per year? ? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about A sum of money RS 30000 in 2 years and RS 33000 in 3 years.Fund the principal and the rate of interest percent per year? ? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money RS 30000 in 2 years and RS 33000 in 3 years.Fund the principal and the rate of interest percent per year? ?.
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