Question #231749

a sum of money amounts to 2100 in a year and 2205 in two years . find the rate of interest and sum.



1
Expert's answer
2021-09-14T06:10:04-0400

Year 1 == 2100

Year 2 = 2205

== ?

== ?

Difference == 2205 - 2100

== 105

== p ×\times R ×\times T/100

105== 2100×R×1100\frac {2100\times R\times1}{100}

R== 5%

Part b

Let the principal for first year be x

So we'll use this formula;

== P ×\times R×\times T/100

Whereby

5x100\frac{5x}{100} == x20\frac{x}{20}

Amount for first year == x+x20+\frac{x}{20} =21x20=\frac{21x}{20}

For second year p == 21x20\frac{21x}{20}

R= 5%p.a T = 1 year

So we solve for this;

== [21x20×5×1]/[\frac{21x}{20}\times5\times1 ]/ 100

== 21x4/\frac{21x}{4}/ 100

From the equation above we'll get

21x4\frac{21x}{4} /100

=2100

400×\times 21x400=\frac{21x}{400}= 2100×\times 400

21x21\frac{21x}{21} == 84000021\frac{840000}{21}

X== 40000

So the original sum of money is

40,000


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