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A sum of money amount to RS 6200 in 2 years and RS 7400 in 3 years.The prinpal and rate of interest are?
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A sum of money amount to RS 6200 in 2 years and RS 7400 in 3 years.The...
Calculation of Principal and Rate of Interest
- Let the principal be P and the rate of interest be R%.
- Using the formula for simple interest, we can write:
- For 2 years: P * R * 2 / 100 = 6200 - (1)
- For 3 years: P * R * 3 / 100 = 7400 - (2)
- From equations (1) and (2), we can write:
- 3 * (1) - 2 * (2): 3PR - 2PR = 18600 - 22200
- PR = 3600
- Substituting PR = 3600 in equation (1), we get:
- 2R * P / 100 = 6200
- P = 310000 / R
- Substituting P = 310000 / R in equation (2), we get:
- 9R^2 = 740000
- R^2 = 82000 / 9
- R = 160 / 3
- Substituting R = 160 / 3 in P = 310000 / R, we get:
- P = 58250
Explanation
Given that the sum of money amounts to Rs 6200 in 2 years and Rs 7400 in 3 years, we are asked to find the principal and the rate of interest. We can use the formula for simple interest to solve this problem.
Let P be the principal and R% be the rate of interest. We can write the following equations:
- P * R * 2 / 100 = 6200 (for 2 years)
- P * R * 3 / 100 = 7400 (for 3 years)
From these equations, we can eliminate P and solve for R. We do this by multiplying equation (1) by 3 and equation (2) by 2, and then subtracting the second equation from the first. This gives us:
- 3 * (P * R * 2 / 100) - 2 * (P * R * 3 / 100) = 18600 - 22200
- 3PR - 2PR = 3600
- PR = 3600
Now that we know PR, we can use either equation (1) or equation (2) to solve for P. We choose equation (1) and substitute PR = 3600:
- P * R * 2 / 100 = 6200
- P * 3600 * 2 / 100 = 6200
- P = 6200 * 100 / 3600 = 310000 / R
Community Answer
A sum of money amount to RS 6200 in 2 years and RS 7400 in 3 years.The...
Rate of interest is 31.57%
and the principl is 3800
and the principl is 3800
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A sum of money amount to RS 6200 in 2 years and RS 7400 in 3 years.The prinpal and rate of interest are?
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A sum of money amount to RS 6200 in 2 years and RS 7400 in 3 years.The prinpal and rate of interest are? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A sum of money amount to RS 6200 in 2 years and RS 7400 in 3 years.The prinpal and rate of interest are? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money amount to RS 6200 in 2 years and RS 7400 in 3 years.The prinpal and rate of interest are?.
A sum of money amount to RS 6200 in 2 years and RS 7400 in 3 years.The prinpal and rate of interest are? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A sum of money amount to RS 6200 in 2 years and RS 7400 in 3 years.The prinpal and rate of interest are? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A sum of money amount to RS 6200 in 2 years and RS 7400 in 3 years.The prinpal and rate of interest are?.
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