## 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

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

1. 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