Question
A sum of money invested at compound interest amounts to rupees for 4624 in 2 years and 2 Rupees 4913 in 3 years the sum of money is
Answers
bobpursley
4624=S(1+i)^2
4913=S(1+i)^3
Divide the second equation by the first.
4913/4624=S(1+i)^3/S(1+i)^2
= (1+i)
so solve for i. now, putting that back into the first equation, solve for S
4913=S(1+i)^3
Divide the second equation by the first.
4913/4624=S(1+i)^3/S(1+i)^2
= (1+i)
so solve for i. now, putting that back into the first equation, solve for S