Ci for first year is 2592 and third year ci is 3528 find ci for 4th year ​

Question

Ci for first year is 2592 and third year ci is 3528 find ci for
4th year

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Alaia 1 month 2021-08-19T00:50:05+00:00 1 Answer 0 views 0

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    2021-08-19T00:51:52+00:00

    Given: The CI for 1st year is Rs. 2592 and that for 3rd year is Rs. 3528.

    To find: CI of 4 th year?

    Solution:

    • Now the formula of CI is:

                       CI = P ( (1+(R/100))^T )

                       P = principal, R = rate and T is time period.

    • Now: according to the question, we have:

                       P(1+R/100) – P = 2592

                       P(1+R/100)³ – P(1+R/100)² = 3528

    • From this, we get:

                       PR = 259200   ………………..(i)

                       PR(1+R/100)(1+R/100) = 352800.     ………………..(ii)

    • Putting (i) in (ii), we get:

                       259200(1+R/100)(1+R/100) = 352800

                       (1+R/100)² = 352800/ 259200

                       (1+R/100)² = 3528/2592

                       (1+R/100)² = 49/36

                       (1+R/100)² = (7/6)²

    • Taking square root on both sides, we get:

                       1+R/100 = 7/6

                       R/100 = 7/6 – 1

                       R/100 = 1/6

                       R = 100/6

                       R = 50/3

    • Putting R in (i), we get:

                       P(50/3) = 259200

                       P = 15552

    • So the CI for 4th year can be calculated by :

                       P(1+R/100)(1+R/100)(1+R/100)(R/100).

    • After putting values and solving it, we get:

                       (1 + 100/6(100) )^3 x 1/6 x 15552

                       Rs. 4116

    Answer:

               So the CI of 4 th year is Rs. 4116.

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